As the world grapples with the ongoing global pandemic, there has been a widening disparity in who has been financially hit the hardest. Contrary to the “we’re in this together” narrative we’ve been hearing, women of all races, but particularly Black and Latinx women in the USA, have taken the largest brunt of the economic fallout, in what is now being called the “she-cession”.
According to the Bureau of Labor Statistics (BLS) monthly jobs report, in September alone 865,000 women dropped out of the workforce in the U.S. compared to 216,000 men. Mothers in the pandemic have reduced their work hours four to five times more than fathers in order to care for their children. Women of color, who are more likely to be sole breadwinners and low-income workers, are suffering tremendously. Black and Latinx women had unemployment rates in September at 11.1% and 11%, according to National Women’s Law Center data. That’s compared to White women having an unemployment rate of 6.9% and White men having a rate of 6.5%.
But brands are taking notice and launching initiatives aimed at putting women back to work. With limited opportunities for consumers to engage with brands, many companies are shifting how they spend their budgets from traditional experiential activations to more purpose-driven and practical experiences such as fellowships, job training and educational programming for students, to help communities get back on their feet.