What We’re Reading: The First Female Recession in History Threatens to Wipe Out Decades of Progress for Women
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01 Oct What We’re Reading: The First Female Recession in History Threatens to Wipe Out Decades of Progress for Women

Posted at 16:12h in Coronavirus by

The COVID-19 pandemic is disproportionately affecting women, particularly women with children and women of color. While both women and men are suffering the economic fallout of the virus, it is women — already more likely to be living in poverty than men, already more likely to be earning a smaller paycheck, already with less savings, already more likely to be in precarious jobs — who are being disproportionately squeezed.

“These setbacks — characterized by some economists as the nation’s first female recession — stand in sharp contrast to the dramatic progress women made in the expansion following the last financial crisis. The jobs, income and promotions that women lose as a result of the coronavirus could hold back economic growth and sideline an entire generation of women.”

Read this article from Bloomberg on how the pandemic has erased years of economic gains for women and is poised to leave lasting economic scars.

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