The Evolving Employment Story

Tom Barkin

Speech from Federal Reserve Bank of Richmond

Abstract: The “she-cession” has been a dominant narrative of this pandemic. Unlike the Great Recession, which primarily affected male-dominated sectors such as manufacturing and construction, the COVID-19 recession disrupted the service sector, which employs more women. From February to April 2020, women’s employment fell 17.9 percent, compared to 14.3 percent for men. More than 12 million jobs held by women went away, and school closures and child care constraints further limited workforce participation for primary caregivers who are disproportionately women. Employment of women of all ages, races and educational levels fell more than employment of men with similar backgrounds.1 But, over the last several months, that overall gap has largely closed. As of the May 2021 jobs report, employment for women and men was down 5 percent and 4.6 percent, respectively — a difference of just a few tenths of a percentage point. But it’s important to note that not all women have recovered equally. And a new dichotomy has surfaced by age.

Keywords: employment and labor markets; education (search for similar items in EconPapers)
Date: 2021-05-26
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