How The Pandemic May Widen The Gender Pay Gap

If anyone has been reading the news lately, you’ll likely have noted that the number of layoffs in the month of December were well over 100,000. All of those were women. 

Strides Women Have Made:

– Women have more degrees than their male counterparts. – In many professional fields, women’s pay has moved closer to being on par with men.

Women Face More Trade-Offs Than Men

Despite the strides made, many working women face different trade-offs than men. For instance, women often have to choose between career and family life.

Terrain Map

1 – Women Have More Vulnerable Jobs

A July 2020 McKinsey study reported women made up 46% of workers pre-COVID of job losses, but 54% of overall job losses to-date.

White Bag

2 – Tougher To Save For The Future

More women than men are part-time workers (40% in 2019), which further drives down women’s earnings.

3 – The Fallback To Traditional Gender Roles

Many professional women found themselves working and being caregivers to their children, helping with homeschooling, and domestic housework.

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