Utah among the worst in the U.S. for women’s financial equality
Mar 21, 2024, 10:57 AM
(Canva)
(Canva)
SALT LAKE CITY – Utah is one of the lowest-ranking states for women’s financial equality, according to recent analysis from Forbes. The Beehive State ranked 46th in the nation.
Forbes analyzed data belonging to eight categories. The Census Bureau collected the data that was used.
A full list of the included metrics can be found on Forbes’ website.
Utah ranks low for women’s financial equality
The Forbes study found that on average, women earn $44,745 a year in Utah. Comparatively, men earn an average of $59,132.
In the average earnings category, Utah ranked 15th worst.
Secondly, Forbes said that a low percentage of women who work full-time in Utah earn six figures.
Only 11.2% of the working women in the state earn $100,000 or more. In comparison, 26.92% of the men who work full-time earn $100,000 or more.
The difference is the second-highest in the nation, according to Forbes. However, the report said that “it isn’t surprising.”
Historically, women in Utah have been less likely to participate in the workforce.
Finally, Utah has far fewer women-owned businesses. Women own 18.33% of the businesses operating in the state. In comparison, men own 60.72% of them.
The report did not state if only locally owned and operated businesses were included in the analysis.
Where did nearby states rank?
All of the states that border Utah ranked much higher on the list. Additionally, most of them ranked in the top 25 states with the most financial equality.
Ranking 27th for women’s financial equality, Colorado was the outlier. However, it still scored far higher than Utah, achieving a 44.96 out of 100.
The Beehive State scored 19.42 out of 100.
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