8 March 2021: COVID-19 and its economic fallout are having a devastating and regressive effect on gender equality in the workplace, which in turn will stunt post-pandemic economic recovery, according to two major reports.
PwC’s Women in Work Index has pointed to a “shecession”, in which progress for women in work will be back to 2017 levels by the end of 2021 due to the global pandemic.
The greater proportion of women leaving the workforce due to the COVID crisis will affect the pipeline of female talent and set back the increased representation of women at board level. According to the study, this will not only reverse progress towards gender equality but also stunt economic growth.
Meanwhile, McKinsey’s COVID-19 and gender equality study found that women’s jobs are 1.8 times more vulnerable to this crisis than men’s. Women make up 39% of global employment but account for 54% of overall job losses. The main reason cited by the analyst firm for this greater effect on women is that the virus is significantly increasing…