What is the term used to describe the difference in earnings between men and women in the labor market?

The term used to describe the difference in earnings between men and women in the labor market is called the "gender wage gap. " This gap shows that, on average, women earn less money than men for the same work or similar jobs. Several factors contribute to this gap, such as differences in job types, work experience, and sometimes discrimination. For example, if a man and a woman have the same job at a company but the man earns $50,000 and the woman earns $40,000, there is a gender wage gap of $10,000. Understanding this gap is important because it highlights the need for fairness and equality in pay for everyone, regardless of gender.