Employment Initial Pandemic Hit
- February to April Female Employment: 74.865 Million to 61.478 million, a decline of 13.387 million.
- Female employment declined 17.9%
- February to April Male Employment: 83.867 Million to 71.892 million, a decline of 11.975 million.
- Male employment declined of 13.8%
Employment Current Decline
- February to April Female Employment: 74.865 Million to 70.572 million, a decline of 4.293 million.
- Female employment is down 5.7%
- February to April Male Employment: 83.867 Million to 79.666 million, a decline of 4.201 million.
- Male employment is down 5.0%
Employment and Labor Force 2000-Present
Great Recession vs Covid Recession
In the Great Recession, unlike now, male employment was hit much harder and sooner than Female employment.
However, the dotted lines show that once the recession finally ended, male employment recovered much faster.
Given that women dominate restaurant, cleaning, and service employment in general, we should expect women to take a bigger hit up front and have a slower recovery as well.
That is how it’s playing out.
Mish
I think that this statistic just shows how difficult the pandemic is for people. I was looking for such a research for my paper and I would like to include these digits into the report that will be completed by professional service link to studyclerk.com where I usually order essays. As a woman, I can say that remote working didn’t change my life for the worst.
A pretty interesting statistic. By the way, how do you guys feel working remotely? At first, I liked the opportunity to work in a pajama having a dog next to me. But then I realized that I am sitting at home all my time. No aport, just food only and TV in the evenings. That was terrible. I’ve read this article to understand the difference between an expat and a digital nomad. Now I think I need to change my lifestyle.
Occasionally I remember my late father telling me about his poverty stricken childhood and youth, he became a member of the belgian Royal Armed Resistance during WW2, at he age of 17! and then joined the liberating US army under Patton, was in The Battle of the Ardens, hardship and lethal danger was a every day issue, and then post war, adapting again to a ‘normalised ‘ society, trying to make a living, through trial and error ….Amazing ! We have ALL become spoiled PUSSIES, that much is obvious ….Hopefully we can continue this way….till the Grim Reaper comes around,that is ….
…this comment is not supposed to be here, it was meant for @ dbannist as a reaction to one of his posts…
‘Recession’ Mish ? Which recession , what recession, when recession, why recession ?? The economy is obviously firing at all cylinders, global stocks at ALL time highs, even the occasional hedge fund going down the crapper won t make analysts and gamblers reconsider… Everything s hunky dori like NEVER before, let s ENJOY….while we can …and imagine we re rich and indestructible beyond imagination… for ever… and a day!
Another aspect is the Pandemic assistance funds that have been given out.
If you are a single mom and lost your job due to COVID, it’s very very likely that you were working in a low income job.
That means that officially you lost your job, but you received compensation greater than your income to make up for it.
A single mom of 3 kids received over 10700 in stimulus checks over the last 12 months. Additionally, if she lost her job she received far more in unemployment compensation than she was earning.
The people who suffered the most are those who had their hours cut, but did not lose their job, as they did not get unemployment. However….they still got the stimulus money.
So when those things are factored into it, most low income people actually did BETTER during the pandemic, especially if they lost their job.
That’s the real story here.
Exactly. There is an interface between being poor enough to get well subsidized and not quite poor enough to qualify for the subsidies. The latter group bear the brunt of the government interference. However, those far along up the economic food chain get to feel smug about “helping the little guy” while not experiencing the effects of the policy.
What this highlights is the true role education plays in American society.
Parent’s loss of free day-care restricts their income.
Teenage kids not restrained by school hours and homework commit more crime and do more mischief.
hi Mish i know you always review the comments and this isn’t about this particular post but i would be very interested in an article on the very long held view of Ray Dalio that we are at the end of a debt cycle and I am sure all would be. regards.
Some women also stopped working to continue to educate their children who were forced to learn from home.
Which is one of the reasons that there is so much push to reopen the schools, given that schools act as a child-sitter for parents that can’t or won’t afford someone to watch the kid(s) while they go to work.
Good point
Due to the influx of woman into the workforce during the 1970’s the economic rules changed. It now requires two incomes in many areas to raise a family where one was often sufficient before.
The pandemic showed companies that much work could be done at home by fewer people. Meanwhile, the automation of lower-level in-person jobs is advancing faster than ever.
Woman may be forced to return to child rearing as more jobs transfer to automation.