Global economic downturns are sure to affect everyone to some extent. This year has seen record unemployment numbers and job losses, which have disproportionately affected women and especially women of color. This is a unique situation to the 2020 economic recession, which is why many are calling it the “she-cession.” We took a closer look at what’s causing this disparity and how you can manage your well-being.
Financial independence and wealth have been exclusionary for a long time. The core elements of gaining wealth are career growth and property ownership, both of which excluded women for centuries. This gap remains today as 63 percent of part-time workers are women. Additionally, women own just 37 percent of the wealth in the U.S. Still, women have seen gains in social and wealth equity globally over the last several decades.