Today in America, families’ median net worth has fallen to levels not seen since the late 1980s. The wealthiest 10 percent of households have captured 76 percent of all wealth in America—a far-higher share than most other developed nations, and a far cry from decades past. African-American and Hispanic families own just a fraction of the wealth of white families.
- Reach wage growth of 4 percent annually by 2018. Today in America, wages for most workers have been flat or falling for decades. In real terms, the average wage peaked in 1973. In addition, recent gains in wage growth have accrued to top earners: wages have risen almost 10 percent since 2000 for earners at the 90th percentile, while wages have fallen by nearly 4 percent for earners at the 10th percentile.
- Increase the number of families with adequate retirement savings by 50 percent within 8 years. Today in America, a third of all Americans have no retirement savings or pension—meaning that millions of future retirees are unlikely to have sufficient resources to maintain their current standard of living in retirement. Roughly two-thirds of those close to retirement are projected to have inadequate resources when they retire.
- Cut the pay gap between full-time men and women workers in half by 2025. Women represent half the workforce, but earn less than men in almost every occupation. Overall, women make just 78 cents for every dollar men make—a gender pay gap of 22 percent, and one that, at current rates of progress, will take almost 45 years to close. If we could close that gap today—through paycheck fairness laws, strong family leave policies, and expanded access to quality, affordable childcare, among other measures—half of working single moms would be lifted out of poverty.