Millennial Women See Roadblocks at Work

Dec 11, 2013 8:03am

Morning Money Memo…

Many women in their twenties are pessimistic about equality in the workplace. A new survey of millennial workers finds about 75 percent of young women believe the US needs to do more to bring about workplace equality. But the pay gap for women has narrowed. “They’re the closest to parity with men that any young group of women has ever been at,” says Kim Parker of the Pew Research Center. “The weakening position of young men in terms of their wages has actually strengthened women’s position relative to men.”

The Pew study also finds that pay gaps widen for women by the time they hit their mid-30s. Factors include family responsibility, gender stereotyping, discrimination, weaker professional networks and women’s hesitancy to aggressively push for advancement. The findings indicated that a large portion of young women have little desire to advance to leadership positions at their workplace.

More on gender equality and the toys that girls play with. Have you seen that catchy video for GoldieBlox? It went viral with millions of page views. But the copyright case between the Beastie Boys and GoldieBlox just got messier. The rap group has counter-sued the toy firm, claiming that rewriting its “Girls” song for the commercial does not constitute “fair use.” The website GigaOM says the Beastie Boys’ lawsuit claims “GoldieBlox must hand over the profits it earned from using the song without permission.” The controversy began after the toy company released an amusing and catchy video that parodied the song to promote a new product that encourages girls to learn about construction, science and technology.

They did it. The Federal Reserve and several other financial agencies approved the Volker Rule, aimed at reducing risky trading by banks. The regulations have been in the works for years after controversial trading was said to contribute to the near financial meltdown in 2008. The new rules are very complicated – which could hinder full enforcement.

Stocks took a breather yesterday after the averages hit record highs on Monday. The Dow lost 52 points, the S&P lost 5. Futures are down this morning.

Senate Majority leader Harry Reid says the Senate will not extend the current farm law if Congress does not agree on a new bill before adjourning next week. Milk prices could rise sharply in the new year if federal subsidies expire.

US wholesale oil prices have risen to a six-week high of $98 a barrel. Mexico’s Senate has passed an energy bill that may end the 75-year-old monopoly for the state owned oil company Pemex. That could open to door to drilling and refining by private companies, including US energy firms.

Richard Davies Business Correspondent ABC News Radio abcnews.com Twitter: daviesnow

 

SHOWS:
You are using an outdated version of Internet Explorer. Please click here to upgrade your browser in order to comment.
blog comments powered by Disqus