New Research Reveals Major Disparities in Access to Living Wages in U.S. Workforce
Dayforce, Inc. (NYSE: DAY; TSX: DAY) has released its inaugural Dayforce Living Wage Index in partnership with the Living Wage Institute. The report reveals significant disparities in access to living wages across the U.S. workforce. Key findings include:
- Only 56% of full-time U.S. workers earn a living wage
- 62% of men vs. 50% of women earn a living wage
- 60% of Black and Latino workers don't earn a living wage compared to 32% of white workers
- Significant wage gaps exist across industries and metropolitan areas
The report aims to raise awareness and urgency around the issue of living wages. Dayforce's mission is to make work life better, and this research is part of their new WorkWell series focusing on pay, leave, retirement, and scheduling.
Dayforce, Inc. (NYSE: DAY; TSX: DAY) ha pubblicato il suo primo Indice di Reddito Minimo Dayforce in collaborazione con il Living Wage Institute. Il rapporto rivela significative disparità nell'accesso ai salari dignitosi all'interno della forza lavoro statunitense. I principali risultati includono:
- Solo il 56% dei lavoratori statunitensi a tempo pieno guadagna un salario minimo
- Il 62% degli uomini rispetto al 50% delle donne guadagna un salario dignitoso
- Il 60% dei lavoratori neri e latini non guadagna un salario dignitoso, rispetto al 32% dei lavoratori bianchi
- Esistono significative differenze salariali tra industrie e aree metropolitane
Il rapporto mira a sensibilizzare e creare urgenza attorno al tema dei salari dignitosi. La missione di Dayforce è migliorare la vita lavorativa, e questa ricerca fa parte della loro nuova serie WorkWell che si concentra su stipendio, congedo, pensionamento e programmazione.
Dayforce, Inc. (NYSE: DAY; TSX: DAY) ha lanzado su primer Índice de Salario Digno Dayforce en colaboración con el Living Wage Institute. El informe revela disparidades significativas en el acceso a salarios dignos dentro de la fuerza laboral de EE.UU. Los hallazgos clave incluyen:
- Solo el 56% de los trabajadores estadounidenses a tiempo completo ganan un salario digno
- El 62% de los hombres frente al 50% de las mujeres ganan un salario digno
- El 60% de los trabajadores negros y latinos no ganan un salario digno en comparación con el 32% de los trabajadores blancos
- Existen diferencias salariales significativas entre industrias y áreas metropolitanas
El informe tiene como objetivo crear conciencia y urgencia sobre el tema de los salarios dignos. La misión de Dayforce es mejorar la vida laboral, y esta investigación es parte de su nueva serie WorkWell que se centra en pago, licencia, jubilación y programación.
Dayforce, Inc. (NYSE: DAY; TSX: DAY)는 Living Wage Institute와 협력하여 첫 번째 Dayforce 생활 임금 지수를 발표했습니다. 이 보고서에서는 미국 노동력 내 생활 임금 접근성의 중대한 격차를 드러냅니다. 주요 발견 내용은 다음과 같습니다:
- 미국의 정규직 근로자 중 오직 56%만이 생활 임금을 받고 있습니다.
- 남성은 62%, 여성은 50%가 생활 임금을 받고 있습니다.
- 흑인과 라틴계 근로자의 60%는 백인 근로자의 32%에 비해 생활 임금을 받지 못하고 있습니다.
- 산업과 대도시 지역에 따라 significant한 임금 격차가 존재합니다.
이 보고서는 생활 임금 문제에 대한 인식과 긴급성을 높이는 것을 목표로 합니다. Dayforce의 사명은 근로 생활을 개선하는 것이며, 이 연구는 급여, 휴가, 퇴직 및 일정에 초점을 맞춘 새로운 WorkWell 시리즈의 일부입니다.
Dayforce, Inc. (NYSE: DAY; TSX: DAY) a publié son premier Indice de Salaire Vital Dayforce en partenariat avec l'Institut du Salaire Vital. Le rapport révèle des disparités significatives dans l'accès aux salaires décents au sein de la main-d'œuvre américaine. Les résultats clés incluent :
- Seule 56% des travailleurs américains à temps plein gagnent un salaire vital
- 62% des hommes contre 50% des femmes gagnent un salaire vital
- 60% des travailleurs noirs et latinos ne gagnent pas un salaire vital, contre 32% des travailleurs blancs
- Des écarts de salaire significatifs existent entre les secteurs et les zones métropolitaines
Le rapport vise à sensibiliser et à créer un sentiment d'urgence autour de la question des salaires vitaux. La mission de Dayforce est d'améliorer la vie professionnelle, et cette recherche fait partie de leur nouvelle série WorkWell qui se concentre sur le salaire, le congé, la retraite et la planification des horaires.
Dayforce, Inc. (NYSE: DAY; TSX: DAY) hat in Zusammenarbeit mit dem Living Wage Institute seinen ersten Dayforce Living Wage Index veröffentlicht. Der Bericht zeigt erhebliche Ungleichheiten im Zugang zu existenzsichernden Löhnen in der US-Arbeitskräfte. Zu den wichtigsten Ergebnissen gehören:
- Nur 56% der vollzeitbeschäftigten US-Arbeiter verdienen einen existenzsichernden Lohn
- 62% der Männer im Vergleich zu 50% der Frauen verdienen einen existenzsichernden Lohn
- 60% der schwarzen und lateinamerikanischen Arbeiter verdienen keinen existenzsichernden Lohn, verglichen mit 32% der weißen Arbeiter
- Signifikante Lohnunterschiede existieren zwischen Branchen und Großräumen
Der Bericht zielt darauf ab, das Bewusstsein und die Dringlichkeit für das Thema existenzsichernder Löhne zu schärfen. Die Mission von Dayforce ist es, das Arbeitsleben zu verbessern, und diese Forschung ist Teil ihrer neuen WorkWell-Serie, die sich auf Löhne, Urlaub, Ruhestand und Zeitplanung konzentriert.
- Dayforce is positioning itself as a leader in addressing workforce equity issues
- The company is partnering with reputable institutions like MIT and the Living Wage Institute
- The research could potentially lead to increased demand for Dayforce's HCM solutions
- The report doesn't directly mention any financial benefits or new product offerings for Dayforce
- Highlighting wage disparities could potentially lead to negative publicity for some of Dayforce's clients
Insights
This report unveils significant wage disparities in the U.S. workforce, with profound implications for businesses and investors. Only 56% of full-time workers earning a living wage signals potential for increased labor unrest and policy changes. The
The Dayforce Living Wage Index highlights alarming socioeconomic inequalities that could reshape labor markets and consumer behavior. The 60% of Black and Latino full-time workers not earning living wages suggests systemic issues in economic opportunity. This disparity may lead to increased demand for social services and potential policy interventions, such as minimum wage hikes or targeted economic development programs. For investors, companies demonstrating proactive approaches to wage equity and workforce development may gain competitive advantages in talent attraction and retention. The geographic variations in living wage attainment also underscore the need for location-specific strategies in wage and benefit planning.
This report underscores the growing importance of fair wages in corporate sustainability and ESG considerations. With only 56% of full-time workers earning a living wage, companies face increasing pressure to address wage adequacy. This trend aligns with the 'S' in ESG, focusing on social impact and employee well-being. Investors should anticipate stricter reporting requirements on wage practices and potential reputational risks for companies lagging in this area. The partnership between Dayforce and academic institutions signals a shift towards more transparent, data-driven approaches to wage analysis. Companies proactively addressing these issues may see improved employee productivity, reduced turnover and enhanced brand value, potentially leading to better long-term financial performance.
Inaugural Dayforce Living Wage Index published in partnership with the Living Wage Institute
MINNEAPOLIS and TORONTO, Aug. 12, 2024 (GLOBE NEWSWIRE) -- Dayforce, Inc. (NYSE: DAY; TSX: DAY), a global human capital management (HCM) leader that makes work life better, today launched its inaugural Dayforce Living Wage Index, conducted in partnership with the Living Wage Institute. The report reveals groundbreaking new insights on the percentage of full-time workers in the U.S. that make a family-sustaining living wage based on gender, race and ethnicity, industry, and geography.
The report’s key findings include:
- Only
56% of all full-time workers in the U.S. earn a living wage. - Men (
62% ) are significantly more likely than women (50% ) to make a living wage. 60% of full-time Black and Latino workers do not earn a living wage compared to32% of white workers.- Only
31% of full-time workers in leisure and hospitality,36% in retail, and46% in health care make a living wage. 47% of full-time workers in three of the nation’s ten largest metropolitan areas—including Miami, Phoenix, and Los Angeles—do not earn a living wage.- The median hourly wage for full-time male workers is
$29.40 compared to$25.20 for women. - The median hourly wage for full-time white workers is
$30.80 compared to$23.10 for Latino workers and$22.60 for Black workers.
“Tens of millions of workers are simply not making enough to provide for their families’ most basic needs,” said Dr. Amy Glasmeier, MIT Professor and co-founder of the Living Wage Institute. “Over the past few years, this problem has been made worse by cost of living increases outstripping gains in income for workers in lower-wage jobs. Women, Black and Latino workers, and those in some industries that are critical to our economy are disproportionately less likely to earn a living wage. Our hope is that this research brings both awareness and a sense of urgency to this critically important issue for employers of all types.”
“At Dayforce, we believe that every worker deserves the opportunity to realize their potential and enjoy happy, healthy, and productive lives,” says Jason Rahlan, Vice President for Corporate Responsibility and Sustainability at Dayforce, Inc. “Our mission is to make work life better, and we help employers achieve key business objectives while supporting their people as individuals, spouses, parents, and caretakers. Our hope is that these insights inform our national conversation and spur progress towards more workers earning a just wage that allows them to more than simply survive but thrive.”
The Dayforce Living Wage Index was developed by analyzing deidentified records from nearly 600,000 full-time employees alongside data produced by the Living Wage Institute that is hosted publicly on the Living Wage Calculator. The full methodology is outlined in the Living Wage Index report.
The Living Wage Index is the first report in Dayforce’s new WorkWell research series. It leverages internal Dayforce data analysis, expertise from leading third parties, and surveys of the American public to guide organizations and help them deliver meaningful solutions in four core aspects of human capital: pay, leave, retirement, and scheduling. This includes partnerships with the Living Wage Institute, the Financial Health Network, and JUST Capital.
As outlined in its ESG report, Dayforce believes technology can be a powerful force for good. Whether it’s through modern ways to pay people, such as Dayforce Wallet, equipping employees with AI-assisted career pathing through Career Explorer or providing a unified view of workforce data to make informed decisions, technology can help improve the lives of people and to strengthen the relationship between them and their employers.
Additional Information
- Resources from the Living Wage Institute are available to help employers better benchmark and contextualize the living wage for their own workforce and develop long-term strategies around it. Learn more here.
- Read the blog.
About Dayforce
Dayforce makes work life better. Everything we do as a global leader in HCM technology is focused on improving work for thousands of customers and millions of employees around the world. Our single, global people platform for HR, payroll, talent, workforce management, and benefits, equips Dayforce customers to unlock their full workforce potential and operate with confidence. To learn how Dayforce helps create quantifiable value for organizations of all sizes and industries, visit dayforce.com.
About the Living Wage Institute
The Living Wage Institute is a benefit corporation helping U.S. employers make the living wage a standard part of their strategy — no matter where they are in their journey. Our data-driven approach catalyzes better business performance while also improving outcomes for workers and their families. To learn more visit www.livingwage.institute.
Media Contact
Allison Hacker
+1 425-785-8276
Allison.Hacker@dayforce.com
FAQ
What percentage of full-time workers in the U.S. earn a living wage according to Dayforce's Living Wage Index?
How does the likelihood of earning a living wage differ between men and women in the Dayforce Living Wage Index?
What industries have the lowest percentage of full-time workers earning a living wage according to Dayforce's report?
How does the median hourly wage for full-time male workers compare to that of women in Dayforce's Living Wage Index?
What is the purpose of Dayforce's WorkWell research series, which includes the Living Wage Index?
