On Aug. 3, the Federal Reserve launched a External LinkCommunity Development Research Seminar Series focused on supporting an inclusive economic recovery. Each seminar will present research on an issue critical to our economy. Presenters will discuss how the community development field can use these findings to support a recovery that benefits everyone.
The next seminar, External LinkOct. 21, will examine the economic decline of women during the pandemic and their ability to participate equally in the post-recession labor market. The so-called “shecession” is throwing away decades of hard-won battles both in terms of gender equality and women’s economic gains.
Women, particularly those of color, are more likely to work in sectors hit hardest by economic closures, including health care, retail and the informal economy. Women also are more affected by the burdens of caregiving—including for children and elderly parents who are at home rather than at school or living on their own. Women entrepreneurs also are less likely than men to have access to loans and financial services that help businesses weather a downturn.
Even before the pandemic, the World Economic Forum estimated it would take 250 years to close the economic gender gap. How can we ensure economic recovery efforts include and support women? More broadly, how do we create a more equitable economic environment that offers the tools, resources and opportunities women need to thrive?
This seminar will examine these important questions related to the economic decline of women during the pandemic and their ability to participate equally in the post-recession labor market. The first panel will frame the issue, including what makes the shecession so different from previous recessions. The second will explore ideas on how to rebuild a more inclusive economy for working women.