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Power plant restarts like Three Mile Island represent only a fraction of the nuclear energy the U.S. needs in the coming decades, a senior DOE official said.
Building new reactors at shuttered coal plants could reduce costs and help the U.S. achieve its goal of tripling nuclear power, according to the official.

A bulldozer moves coal that will be burned to generate electricity at the American Electric Power coal-fired power plant in Winfield, West Virginia.
Luke Sharrett | Bloomberg | Getty Images

The planned restart of Three Mile Island is a step forward for nuclear power, but the U.S. needs to deploy new plants to keep up with rising electricity demand, one of the nation’s top nuclear officials said this week.
The U.S. needs to at least triple its nuclear fleet to keep pace with demand, slash carbon dioxide emissions and ensure the nation’s energy security, said Mike Goff, acting assistant secretary for the Office of Nuclear Energy at the Department of Energy.The U.S. currently maintains the largest nuclear fleet in the world with 94 operational reactors totaling about 100 gigawatts of power. The fleet supplied more than 18% of the nation’s electricity consumption in 2023.

The U.S. needs to add 200 gigawatts of nuclear power, Goff told CNBC in an interview. This is roughly equivalent to building 200 new plants, based on the current average reactor size in the U.S. fleet of about a gigawatt.
“It’s a huge undertaking,” Goff said. The U.S. led a global coalition in December that formally pledged to meet this goal by 2050. Financial institutions including Goldman Sachs and Bank of America endorsed the target at a climate conference in New York City this week.
Constellation Energy’s plan to restart Three Mile Island by 2028 is a step in the right direction, Goff said. The plant operated safely and efficiently, only shutting down in 2019 for economic reasons, he said.
The reactor that Constellation plans to reopen, Unit 1, is not the one the partially melted down in 1979.
Microsoft will purchase electricity from the plant to help power its data centers. Goff said the advent of large data centers that consume up to a gigawatt of electricity only reinforces the need for new reactors.

“A lot of the data centers are coming in and saying they do need firm, 24/7, baseload clean electricity,” Goff said. “Nuclear is obviously a perfect match for that,” he said.
But restarting reactors in the U.S. will provide only a small fraction of the nuclear power that is needed, he said. There are only a handful of shuttered plants that are potential candidates for restarts, according to Goff.
“It’s not a huge number,” Goff said of potential restarts. “We need to really be moving forward also on deploying plants,” he said.

From coal to nuclear

Coal communities across the U.S. could provide a runway to build out a large number of new nuclear plants. Utilities in many parts of the U.S. are phasing out coal as part of the clean energy transition, creating a supply gap in some regions because new generation is not being built fast enough.
Recently shuttered coal plants, those expected to retire, and currently operating plants with no estimated shutdown date yet could provide space for up to 174 gigawatts of new nuclear power across 36 states, according to a Department of Energy study published earlier this month.
Coal plants already have transmission lines in place, allowing reactors at those sites to avoid the long process of siting new grid connections, Goff said. The plants also have people experienced in the energy industry who could transition to working at a nuclear facility, he said.
“We can actually get a significant cost reduction by building at a coal plant,” Goff said. “We can maybe get a 30% cost reduction compared to just going on a greenfield site.”

Cost overruns and long timelines are major hurdles for building new nuclear plants. The expansion of the Vogtle plant in Georgia with two new reactors, for example, cost more than $30 billion and took around seven years longer than expected.
Expanding operational nuclear plants and building at retired sites in the U.S. could create a pathway for up to 95 gigawatts worth of new reactors, according to the DOE study. Between coal and nuclear sites, the U.S. potentially has space for up to 269 gigawatts of additional nuclear power.
The potential capacity would depend on whether advanced, smaller reactors are built at the sites, or larger reactors with a gigawatt or more of power.
More electricity could potentially be generated if the smaller reactors were rolled out on a large scale because there is space for more of them, according to the DOE study. Some of these smaller advanced designs, however, are still years away from commercialization.
But rising electricity demand from data centers, manufacturing and the electrification of the economy could provide a catalyst to build the larger plants as well, according to Goff. The Three Mile Island restart, for example, would bring back just under a gigawatt of power to meet Microsoft’s needs.
“That increased power demand, that will lead toward an additional push toward those gigawatt-size reactors as well,” he said.

Restarts likely to secure greenlight

While reactor restarts aren’t a silver bullet, shoring up and maintaining the existing fleet is crucial, Goff said. The U.S. went through a decadelong period in which reactors were shutting down because they could not compete with cheap, abundant natural gas.
The economics are changing, however, with tax support from the Inflation Reduction Act and nuclear increasingly valued for its carbon-free attributes, Goff said.
“One of the issues with the economics, especially in the non-regulated utilities, was there was no value necessarily for clean, baseload electricity,” he said. “There is a lot more recognition of the need for that clean, firm, reliable baseload for nuclear.”
Constellation’s decision to restart Three Mile Island follows in the footsteps of the Palisades nuclear plant in Michigan. The private owner, Holtec International, plants to restart Palisades in 2025. The two restarts are subject to review and approval by the Nuclear Regulatory Commission.
“They are an independent agency, but I expect if the safety cases are presented, they’re going to approve it,” Goff said of those potential restarts.
“Constellation obviously operated the Three Mile Island plant for years, and has a very large fleet of reactors that they’ve operated safely and efficiently,” he said. “They will continue to have a great expertise in moving those plants to continue their safe operation.”
But finding additional plants to restart could prove difficult, said Doug True, chief nuclear officer at the Nuclear Energy Institute.
“It gets harder and harder,” True previously told CNBC. “A lot of these plants have already started the deconstruction process that goes with decommissioning and the facility wasn’t as thoroughly laid up in a way that was intended to restart in any way.” More

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Here’s what CNBC TV’s producers were watching as the S&P 500 rose for another record, and what’s on the radar for the next session.

Tepper and China

“Everything, everything, everything… ETFs, I would do futures, everything, everything” said David Tepper, head of Appaloosa Management Thursday morning on “Squawk Box” when asked about China. He’s one of the most successful investors in history. He continued making his case by saying, “a long time ago in 2010 I think I said everything, and you know what was good, everything.”
Continuing on China, Tepper said, “This is incredible stuff for that place. So it’s everything. I would like to see a pullback… I would have another newfound limit in a pullback.”
The iShares MSCI China ETF (MCHI) was up 8.7% on Thursday. It is up 17.4% in four days.
The iShares China Large-Cap ETF (FXI) was up 8% Thursday. It is up 17.6% in four days.
The KraneShares CSI China Internet ETF (KWEB) was up 11.6% Thursday. It is up 22% in four days.
All three ETFs hit new 52-week highs during the session. We’ll be following on Friday.

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KraneShares CSI China Internet ETF (KWEB) in 2024

Tepper and the U.S.A.

Tepper was less enthusiastic about the U.S., but he wasn’t bearish. “I don’t love the U.S. markets on a value standpoint, but I sure as heck won’t be short, because I would be nervous as heck about the setup with easy money everywhere, a relatively good economy,” he said.
The S&P 500 hit a new high Thursday. It is up 2.3% in a month.
The Dow Jones Industrial Average is 0.29% from a high. The index is up nearly 8% in three months.
The Nasdaq Composite is 2.57% from a high. It’s up 2.6% in a month.
The Nasdaq 100 is 2.78% from a high. The index is up 3% in a month.
Alibaba, which is a stock Tepper has held, was up 10% Thursday, hitting a new high. The stock is up about 19% in four days.

Beyond China and the other side of the yuan

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The iShares MSCI India ETF (INDA) in 2024

China and China

On Friday, CNBC TV Megan Cassella will report on the tariff threat involving China which could be another overhang.
Robert Frank, CNBC TV’s wealth reporter will look at luxury stocks in China as economic stimulus plans go into effect. Burberry was up 12.5% Thursday. It remains 62% from the high hit in September 2023.
LVMH was up about 11% Thursday. It is 20% from the March high.
Hermes was up 9% Thursday. It is 8% from the March high.
Prada was up 6% Thursday. It is 14% from the May high.
Ralph Lauren was up 4.4% Thursday, hitting a new high. The stock is up 15.4% in September.

Copper

The China-linked commodity is up 10% in September.
It’s now about 8% lower than it was in mid-May, when it hit a high.

The shipping stocks

The sector was on the rise Thursday, perhaps in part due to Chinese stimulus.
At the same time, there’s a very serious strike threat in the U.S. CNBC TV’s Frank Holland and Lori Ann Larocco are heading up our coverage. Workers may walk off the job Monday night without a deal.
Cosco was up more than 10% Thursday. It is 18.6% from the June high.
Frontline was up 6.6%. It’s 22% from the May high.
Star Bulk was up 3.86% Thursday, and it’s 13.8% from the May high.
Diana Shipping was up 2.82%, and it’s 28.6% from the November high.
Nordic American Tankers closed up up 2.55% Thursday. It’s 25% from the October 2023 high. 

PayPal

CNBC’s MacKenzie Sigalos will report on the stock, one year since CEO Alex Chriss took the helm at PayPal.
The stock is up 36% in a year.
Affirm is up 110% during that time.
American Express is up 77% in a year.
Block is up 48% in a year, but it’s still 24% since the March high.
Mastercard is up 24% in a year.
Visa is up 18% in a year.
Global Payments is down about 17% in a year.

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PayPal over one year

Costco

The stock is down 1% in extended trading after the company posted earnings this afternoon. Results were mixed.
Costco is down 2.4% since hitting a new high about two weeks ago.
Jim Cramer, who returns next week, is a longtime holder. If you bought when he did in June 2020, you’d be outperforming the S&P 500 by far: The stock is up 210% since then. The S&P 500 is up 88% in the same time period.

Cassava Sciences

The biotech company settled a case with the U.S. Securities and Exchange Commission on Thursday over “misleading claims” about an Alzheimer’s clinical trial, according to the agency.
Cassava Sciences is down 11% after hours.
The name has been consistently high on the list of most-shorted stocks. More

Social Security may provide a one-time $255 death benefit to your loved ones when you die.
But that amount has not changed in 70 years.
A new bill has been introduced in the Senate to raise that amount to $2,900 to reflect today’s cost of living.

Skynesher | E+ | Getty Images

When a Social Security beneficiary dies, their loved ones may qualify for a one-time $255 lump-sum death payment.
Yet that amount has not changed in 70 years — since 1954 — while inflation has pushed the costs for funerals higher.

On Wednesday, Sen. Peter Welch, D-Vt., introduced a new bill, the Social Security Survivor Benefits Equity Act, to raise the lump-sum death benefit to $2,900 to reflect today’s cost of living.
The bill is co-led with Sens. Bernie Sanders, I-Vt., and Elizabeth Warren, D-Mass.
The change is aimed at helping to alleviate the financial burden for families following the loss of a loved one, Welch said in a statement.
“Funeral costs should be the last thing on the minds of grieving families when they lose a loved one,” Welch said. “But because benefits designed to help folks afford funeral expenses haven’t kept pace with inflation, the cost of burying a loved one has become top of mind for many mourning families.”
More from Personal Finance:House may force vote on bill affecting pensioners’ Social Security benefitsSocial Security cost-of-living increase in 2025 could be lowest in yearsWhy children miss out on Social Security survivor benefits

A full memorial and cremation service costed around $700 in the 1950s, when the $255 lump sum death payment still in effect today was established, according to Welch’s proposal.
Today, the median cost of a funeral with casket and burial is $8,300, while the average cost for a funeral with cremation is $6,280, according to the National Funeral Directors Association.
Under the terms of the bill, the higher $2,900 death benefit would go into effect in 2025. That sum would adjusted for inflation to the Consumer Price Index for Urban Wage Earners and Clerical Workers, or CPI-W, which is used to calculate Social Security’s annual cost-of-living adjustments.
The proposal has been endorsed by advocacy organizations Social Security Works and the Strengthen Social Security Coalition.

What happens to Social Security benefits when you die

The current $255 one-time lump-sum death payment is available to Social Security beneficiaries’ survivors, provided they meet certain requirements.
“If you’ve worked long enough, we make a one-time payment of $255 when you die,” the Social Security Administration states in a guide on survivors’ benefits.
Survivors — such as a spouse or child — must apply for the payment within two years of the date of death, according to the agency.
A surviving spouse may be eligible for the death payment if they were living with the person who passes away. If the spouse was living apart from the deceased but was receiving Social Security benefits based on their record, they may also be eligible for the $255 payment.
If there is no surviving spouse, children of the deceased may instead be eligible for the payment, as long as they qualify to receive benefits on their deceased parent’s record when they died.

While funeral homes often report a death to the agency, survivors should still notify the Social Security Administration as soon as possible when a beneficiary dies to cancel their benefits, according to Jim Blair, vice president of Premier Social Security Consulting and a former Social Security administrator.
Though a one-time death payment may be available, any benefit payments received by the deceased in the month of death or after must be returned, according to the Social Security Administration. However, how this rule is handled depends on the timing of the death.
If a deceased beneficiary was due a Social Security check or a Medicare premium refund when they died, a claim may be submitted to the Social Security Administration.
Certain family members may be eligible to receive survivor benefits based on the deceased beneficiary’s earnings record starting as soon as the month they died, according to the Social Security Administration.
That may include a surviving spouse age 60 or older; a surviving spouse 50 or older who has a disability; a surviving divorced spouse if they meet certain qualifications; or a surviving spouse who is caring for a deceased’s child who is under age 16 or who has a disability.
Other family members may also qualify, including an unmarried child of the deceased who is under 18, or up to 19 if they are a full-time elementary or secondary school student, or age 18 and older with a disability that began before age 22; stepchildren, grandchildren, step-grandchildren or adopted children under certain circumstances; and parents ages 62 or over who relied on the deceased for at least half of their financial support. More

Financial TikTok, also known as #FinTok, is now one of the most popular sources for financial information, tips and advice, particularly among Gen Z.
But more than a quarter of social media users have fallen for financial advice or information on TikTok or Instagram that turned out to be false or misleading, a recent report found.
“If it sounds amazing, it’s probably too amazing,” said Jean Chatzky, CEO of HerMoney.com.
Before heeding any advice, check out a finfluencer’s qualifications as well as potential financial motivations.

From putting your toddler children on your payroll to claiming your car as a business expense, TikTok is chock-full of potentially bad money advice.
Yet, financial TikTok, also known as #FinTok, is one of the most popular sources for financial information and tips, particularly among Generation Z.

Now, 27% of social media users say they have fallen for financial advice or information on social media that turned out to be false or misleading, according to a new report by Edelman Financial Engines.
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Roughly 20% have even fallen for such misleading content multiple times, the report found. Edelman Financial Engines polled more than 3,000 adults over 30 from June to July.
“It’s hard to discern what’s good advice from what’s not good advice,” said Jean Chatzky, personal finance expert and CEO of HerMoney.com, who worked with Edelman Financial Engines on the report. However, “if it sounds amazing, it’s probably too amazing.”
Heavy social media users, likely younger Americans, may be particularly susceptible to believing inaccurate financial information found there, according to Edelman Financial Engines.

Gen Zers may be more likely to get duped

With less access to professional financial advisors and a preference for obtaining information online, Gen Zers are more likely than any other generation to engage with finfluencer content on TikTok, YouTube and Instagram, according to a January report by the CFA Institute.
In fact, Gen Zers are nearly five times more likely than adults in their 40s or older to say they get financial advice — including stock tips — from social media, a separate CreditCards.com report from April also found.

In some cases, having such an accessible source for money-related subjects can help, particularly if it encourages better budgeting or savings habits, said Isabel Barrow, the director of financial planning at Edelman Financial Engines.
However, “you have to take everything that you hear and see and read on social media with many grains of salt,” Barrow said, especially when it comes to topics such as how to avoid or limit taxes.
“It may be good advice for someone but it is not a one-size-fits-all thing.”

‘Do your own vetting’

While there are ways to vet traditional financial advisors, it’s much harder to find out the intentions or possible conflicts of interest of someone giving advice online.
“Check out who you are listening to and what their background is and whether they actually have the credentials to be leading you down the road you are about to follow,” Chatzky said.
Until there is more oversight, the CFA Institute also advises consumers to look into a finfluencer’s qualifications as well as potential financial motivations such as commissions or sponsorships, and cross-check any information offered online.
“You do need to do your own vetting,” Barrow said.
To verify a certified financial planner’s background, go to the CFP Board’s website. Brokers and brokerage firms can be looked up on the Financial Industry Regulatory Authority website and investment advisors can be checked out on the U.S. Securities and Exchange Commission’s website.
For other professional designations, go to the FINRA page that lists them, which includes links to the designation organizations.
Subscribe to CNBC on YouTube. More

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Here’s what CNBC TV’s producers were watching as the Dow ended a four-day win streak Wednesday, and what’s on the radar for the next session.

Micron Technology

On Thursday, Micron’s CEO Sanjay Mehrotra will be on CNBC TV in the 9 a.m. hour, Eastern time.
The chip giant reported quarterly results Wednesday afternoon, beating estimates.
The company’s chips are used in the artificial intelligence industry.
Micron said some of its chips for next year are already pre-sold out.
The stock is up 14% after hours. However, Micron remains about 35% from the June high.

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Micron Technology shares in 2024

Southwest Airlines

CNBC TV’s Phil LeBeau will report on Southwest Airlines’ investor day.
The company is fighting off an aggressive push from activist investor Elliott Management.
News of the investment came out June 10.
Since then Southwest is barely up, just 2%.
The stock took a hit Wednesday, falling about 4.6%. It is 19% from the February 52-week high.

Biogen

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Biogen shares in 2024

Hooray for Hollywood

Class B shares of Fox hit a 30-month high Wednesday. The stock is up 19% in three months.
Live Nation Entertainment hit a 29-month high Wednesday. The stock is up 9.5% in September.
Netflix hit another all-time high. The stock is up 48% in 2024.

The industrials

The S&P sector is up about 10% in three months.
Several industrials hit all-time highs Wednesday. Thanks to CNBC’s Chris Hayes for the list.
Dover hit an all-time high. 
GE Vernova hit an all-time high. The stock is up 8% in a week and 40% in three months.
W.W. Grainger hit an all-time high.  
Howmet Aerospace hit an all-time high. It is up 27.5% in three months.
Lockheed Martin hit an all-time high. It is up 23.5% in three months.
Parker-Hannifin hit an all-time high. It is up 23% in three months.
Pentair hit an all-time high. It is up 11% in a month and about 30% in three months.
TransDigm Group hit an all-time high.
Trane Technologies hit an all-time high. The stock is up nearly 10% in a month.
Westinghouse Air Brake hit an all-time high. The stock is up almost 10% in a month. More

Women and Wealth Events
Your Money

The Federal Reserve may cut another 50 basis points before the end of the year, according to HSBC’s forecast.
Meanwhile, the coming November election may usher in more market volatility.
Investors who take certain steps to protect their money now may fare best, experts say.

Thomas Barwick | Digitalvision | Getty Images

Big changes may be ahead for the U.S. economy between now and the end of the year.
Investors can get ahead of those changes by taking steps to prepare now, experts say.

The Federal Reserve last week slashed interest rates by 50 basis points, in a move expected to kick off more cuts, Racquel Oden, U.S. head of wealth and personal banking at HSBC said Wednesday during CNBC’s Women & Wealth event.
“We know there needs to be a continuation of rate cuts,” Oden said. “The new debate is the question, is the next one going to be another 50 [basis points], or will it be 25 [basis points]?”

More from Women and Wealth:

Here’s a look at more coverage in CNBC’s Women & Wealth special report, where we explore ways women can increase income, save and make the most of opportunities.

HSBC expects there will likely be a 25-basis point rate cut in November, followed by another cut of the same size in December, for a total of 100 basis points by the end of the year.
For consumers, lower interest rates will lower the cost of borrowing on everything from mortgages to credit cards to auto loans. But it will also mean lower returns on cash savings.
The good news is the pace of inflation has come down, Oden noted. Meanwhile, consumer confidence and spending have stayed strong.

Expect market volatility ahead

Yet the U.S. faces another looming uncertainty with the upcoming November election. Market volatility, which tends to increase in September, will likely continue in October, according to Oden.
“Pre- and post-election, we will still see some volatility,” Oden said.
Investors who withstand the markets ups and downs may be rewarded.
Market rallies traditionally follow elections, Oden said. Moreover, the fourth quarter earnings season also tends to send markets higher.
“We do believe there’ll be a strong fourth quarter rally,” Oden said.
For investors — especially women, who are more likely to second-guess their decisions — having confidence can help, especially in uncertain times, she said.
“We all get what I call decision paralysis, because we’re worried about failure,” Oden said. “What we have to do is really change that pendulum to be really focused on not on failure but .. the opportunity for success.”

Defer to your personal investment policy

The best policy for any investor is to have a plan and stick with it, said Carolyn McClanahan, a certified financial planner and founder of Life Planning Partners in Jacksonville, Fla.
“No matter what happens with rate cuts or volatility, you should have that investment policy and let that be your road map,” said McClanahan, who is also a member of the CNBC FA Council.
For example, if you’re young and can afford to take risks, you may have more of your portfolio in stocks and less in bonds, McClanahan said. Older investors who are closer to retirement, and therefore more risk averse, may want to have a more even stock-bond split.

With interest rates poised to decline, investors would also be wise to lock in today’s higher interest rates on cash, where they can, McClanahan said.
The easiest way to do that is to buy certificates of deposit, particularly those with longer terms, she said.
“They don’t pay as much as one-year CDs, but you’re locking that rate in for five years,” McClanahan said.
“If interest rates go down next year, you’ve got that higher interest rate paying you for at least five years,” she said. More

After years of higher yields on cash, the Federal Reserve’s shifting policy means lower future returns on savings, certificates of deposit and money market funds.
Despite falling rates, investors should still keep emergency funds “liquid,” meaning the cash can be easily tapped, financial experts say.
“You don’t want to mess with your safety net,” said certified financial planner Kathleen Kenealy, founder of Katapult Financial Planning.

Catherine Mcqueen | Moment | Getty Images

After years of higher yields on cash, the Federal Reserve’s shifting policy means lower future returns on savings, certificates of deposit and money market funds.
Despite falling rates, investors should still keep emergency funds “liquid,” meaning the cash can be easily tapped, financial experts say.

Advisors typically suggest keeping at least three to six months of cash reserves for emergencies, such as a job layoff. But that threshold could be higher, depending on your circumstances.
Keep those funds in high-yield savings or a money market fund, said certified financial planner Kathleen Kenealy, founder of Katapult Financial Planning in Woburn, Massachusetts.
“You don’t want to mess with your safety net,” she said.
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The Fed last week slashed its benchmark interest rate by a half percentage point, which was the first rate cut since early 2020. Banks use the federal funds rate to lend to and borrow from one another. As a result, it influences consumer loans and savings rates.

While top yields have already fallen slightly, many savers are still getting relatively high rates on cash.
The top 1% average for savings was hovering near 4.75%, and the highest one-year CDs were more than 5%, as of Sept. 25, according to Deposit Accounts. Meanwhile, the biggest retail money market funds were still paying around 5%, as of Sept. 24, according to Crane Data.
If you have been earning 4% to 5% on emergency savings, you could see a “small reduction” in the short term, said Kenealy, who recommends keeping emergency funds where they are.

Don’t put your emergency fund at risk

After several months of stock market gains, it may be tempting to funnel emergency savings into higher-paying assets. The S&P 500 was up about 20% year to date and notched a 52-week high on Sept. 25.
But investing your cash reserves is a mistake, experts say. Generally, short-term savings, especially funds that could be needed within the next year, should stay out of the market.  
“You don’t want to put your emergency funds at risk,” said CFP Shehara Wooten, founder of Your Story Financial in Fairborn, Ohio. 

You don’t want to put your emergency funds at risk.

Shehara Wooten
Founder of Your Story Financial

Whether you are dealing with a job loss or major car repair, you need easily accessible cash. Otherwise, you could have to sell invested emergency funds when the stock market is down, she said. 
“Don’t make rash decisions based on what’s going on at the Federal Reserve,” Wooten said.

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Women and Wealth Events
Your Money

About 70% of the gender wage gap is due to women occupying different positions compared to men, Professor Kelly Shue said at CNBC’s Women & Wealth event Wednesday.
Although female workers typically outperform their male counterparts, men are more likely to get promoted, Shue’s research shows.

PeopleImages

Progress toward narrowing the gender pay gap has mostly stalled, in part due to something researchers call the “gender promotion gap.”
“Women have noticeably lower promotion rates compared to men in the same firm, in approximately the same position,” Kelly Shue, a professor of finance at Yale School of Management, said at CNBC’s Women & Wealth event Wednesday.

Women are about 13% less likely to be promoted than men, according to Shue’s research.
That imbalance is a major driver in the persistent income inequality between men and women, she said.

More from Women and Wealth:

Here’s a look at more coverage in CNBC’s Women & Wealth special report, where we explore ways women can increase income, save and make the most of opportunities.

About 70% of the gender wage gap is due to women occupying different positions compared to men, according to Shue. But even when men and women occupy the same position, women are paid less, she added.
As it stands, women earn just 84 cents for every dollar earned by men, according to an analysis of U.S. Census Bureau data by the National Women’s Law Center.

Women are ‘underrepresented from the start’

Women in corporate America have come a long way but there are still barriers at the outset, largely due to systemic bias, the annual Women in the Workplace study from Lean In and McKinsey also found.

“They remain less likely than men to be hired into entry-level roles, which leaves them underrepresented from the start,” Lean In’s report notes.
From there, advancements are slower at the manager and director levels, the report found: Only 81 women are promoted for every 100 men.
“Because of this ‘broken rung’ in the corporate ladder, men significantly outnumber women at the manager level, making it incredibly difficult for companies to support sustained progress at more senior levels,” according to Lean In’s report.

When it comes to promotions, “unconscious bias can creep in,” Shue said. When we imagine the most successful managers, they tend to have stereotypically male qualities, she said, “such as being optimistic, courageous, having an aggressive leadership style, embracing competition, etc.”
To alleviate some of that bias, “a lot of the advice has been focused on how female workers can change how they behave, and advocate for themselves and engage in some degree of self-promotion,” Shue said.
“I think that could be affective,” she added, “but I would also argue that instead of putting all of the burden on women to behave differently, and to advocate for themselves, it would be great if firms and the managers in charge of these decisions also stop rewarding… this aggressive behavior to the same extent and instead just recognize that many female workers actually have high potential.” More