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2023 Recession on Working Women
How recession makes working women to quit.
The global economy is cyclical and it is subject to booms and busts, and one of the most significant consequences of an economic recession is the impact it has on individuals and households. Women are often disproportionately affected by recessions, and this has been particularly true during the COVID-19 pandemic. In this blog post, we will examine the effects of an economic recession on working women.
During a recession, businesses often struggle to stay afloat, and as a result, many women may find themselves out of work or facing reduced working hours. Women are also more likely to work in industries that are highly impacted by recessions, such as hospitality, retail, and tourism, which have been significantly affected by the COVID-19 pandemic. This has resulted in a rise in unemployment and underemployment for women, which can have long-term effects on their financial stability.
Moreover, women may also face challenges in finding new employment during a recession. In a highly competitive job market, women may find it more difficult to secure a new job, especially if they are returning to work after a career break or have limited work experience. This can further impact their financial stability, as they may have to accept low-paying jobs or work in fields outside their area of expertise. If you go to any tech meetups now a days, there is only one worry among the particpants - “there are no job openings”. While it is particularly hard for men, women often times get discouraged and opt to not work.
For working mothers, an economic recession can also have a significant impact on their ability to balance work and family responsibilities. With the closure of schools and daycare centers during the COVID-19 pandemic, working mothers have had to juggle their work responsibilities with childcare and homeschooling. This has put additional pressure on women, making it difficult for them to maintain a work-life balance and advance in their careers. Many a times, I have thought to just quit, I couldn’t take the mental pressure of running the household and doing a full time job. This is despite having an equally contributing husband. Every day morning, I would prep myself saying — “just finish this day”. It is not healthy for a longer term.
