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E3a Gender-Related Patterns of Perceived Financial Well-Being During the COVID-19 Recession: The US Case
Key Words
financial well-being, financial stress, mental load, childcare, gender, pandemic
Short Description
Besides the enormous effect on both individual and public health, the COVID-19 pandemic itself and the measures employed to control it have also had huge socio-economic consequences with strongly gendered effects (Haupt and Lind 2021). As Albanesi and Kim (2021) state, recessions in the United States are usually associated with a larger employment drop for men than for women. However, during the COVID-19 recession, employment losses were larger for women, as it is also being called a “she-cession”. While layoffs and furloughs in female-dominated industries explain part of the picture, many women were leaving the workforce not because their jobs have vanished but because their support systems have. Without historic parallel, the limited availability of in-person childcare and school options, led many parents—and women in particular—to exit the labor force or work reduced hours. Given this macroeconomic background, the purpose of the study is to investigate patterns of subjective financial well-being and its gender-related components in more detail.