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 bothย womenย and menย areย suffering theย economicย fallout of the virus, itย is womenย โ€” already more likely toย beย living in poverty than men, already more likely toย beย earning a smaller paycheck, already with less savings, already more likely toย beย in precarious jobs โ€” whoย are beingย disproportionately squeezed.

โ€œThese setbacks โ€” characterized by some economists as the nationโ€™s first female recession โ€” standย 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.โ€

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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