Not Working 9 to 5: It’s a “She-Cession” Economy Pademic Impacts Women in the Workforce
T
he nation’s economy has taken a definitive feminine twist if you look at how the media is reporting recovery efforts from the COVID-19 pandemic. Call it the “She-Cession,” as first coined by C. Nicole Mason, president and CEO of the Institute for Women’s Policy based in Washington, D.C. Currently, this trending reference captures the data-driven notion that the COVID-19 pandemic has made a more significant economic impact on women than men. 20 / ADVISORS MAGAZINE
MAR 2021
Other labels are emerging. The “second pandemic” title is gaining ground as first stated by Lorna Borenstein, CEO of Grokker, a San Jose, Californiabased company providing employee health engagement and personal wellbeing services. In a nod to the classic girly color, “The Pink Collar Recession” moniker is highlighted in recent headlines accompanying articles discussing how employers are scrambling and struggling to get women back at work. Take your preferred pick:
by amy armstrong
The results are the same. The nation’s economy is suffering because women aren’t working in their former jobs. Economic Losses by the Numbers In an effort to frame the impacts COVID-19 has had on working women, here are some the not-so-pretty numbers: Women lost 5.5 million jobs during the first ten months of the pandemic. That is one million more jobs than what were lost by men. In January 2021, another 275,000 women left the
