Episode Overview

Podcast: Your Money Minute
Episode: Women Returning To The Work Force
Date: May 6, 2026
Host: Jessica Ettinger (CNBC)
Main Theme:
A brief yet impactful look at the shifting dynamics for women in the American workforce: while more women are re-entering the job market at a notable rate, the gender pay gap has widened, and pay raises for women have stagnated compared to pre-pandemic years.

Key Discussion Points

1. The Gender Pay Gap Has Worsened

• Jessica Ettinger [00:00]: Opens the episode by highlighting that not only does the gender pay gap persist, it has actually widened in recent years.
  • “The state of the American gender pay gap. Well, it's not only still there, it's worse. The gap widened over the past two years with women making about 81 cents for every $1 paid to men in the same job.”
• Women’s earnings relative to men’s declined, undoing some previous progress.

2. Surge in Female Workforce Participation

• Sharon Epperson [00:22]: Shares positive news that women’s labor force participation is rising quickly.
  • “Women joined the labor market at nearly three times the rate of men last year, reversing a trend from the past three years driven by an increase in jobs, education and health care, where women hold more than three quarters of those jobs.”
• The reversal follows years of declining participation and is particularly noticeable in industries dominated by women, such as education and healthcare.

3. Stagnant Pay Raises and Diminished Job Change Premium

• Jessica Ettinger [00:37]: Introduces the concern that better pay for women isn’t following this return to work.
• Sharon Epperson [00:44]: Adds that pay raises for women have sharply declined compared to 2019.
  • “Women's pay raises are less than half of what they were in 2019, according to the Bank of America Institute.”
• Jessica Ettinger [00:50]: Notes the decline in the “job change premium”—the extra pay increase workers used to see when switching employers.
  • “And that pay bump that you get when you change jobs, that's really pulled back from what it was,”
• Sharon Epperson [00:56]: Confirms that the job change premium has softened as the labor market tightens.
  • “The so called job change premium, that extra pay boost that workers typically get when they switch jobs has declined. Employers know...”
• Jessica Ettinger [01:05]: Explains the reason behind this trend: employers, aware of a tighter job market, feel less pressure to pay more when hiring.
  • “...the job market has tightened and they don't have to pay so much to fill roles.”

4. Where to Learn More

• Jessica Ettinger [01:12]: Invites listeners to track ongoing developments at CNBC’s website.
  • “You can keep up on the labor market and the job picture. @cnbc.com”

Notable Quotes & Memorable Moments

• “The gap widened over the past two years with women making about 81 cents for every $1 paid to men in the same job.” — Jessica Ettinger [00:05]
• “Women joined the labor market at nearly three times the rate of men last year...” — Sharon Epperson [00:22]
• “Women's pay raises are less than half of what they were in 2019...” — Sharon Epperson [00:44]
• “That pay bump that you get when you change jobs, that's really pulled back from what it was.” — Jessica Ettinger [00:50]

Important Timestamps

• 00:00-00:20 — State of the gender pay gap; worsening figures and context
• 00:22-00:37 — Women’s workforce comeback; new jobs in education and health care
• 00:37-00:56 — Analysis on pay raises and the “job change premium” decline
• 00:56-01:12 — Explanation for market shifts; employers’ leverage in pay negotiations
• 01:12-01:18 — Resource for staying updated on labor market news

Summary

In just 60 seconds, this episode of Your Money Minute spotlights a bittersweet trend: while American women are returning to the workforce faster than men, particularly in fields like education and healthcare, the longstanding gender pay gap is worsening. Pay raises have significantly slowed for women, and the financial benefit often seen when switching jobs—known as the “job change premium”—has faded as employers take advantage of a tighter labor market. The episode encourages listeners to monitor ongoing changes via CNBC resources, ending with actionable advice in a clear, concise manner true to the podcast’s tone.