Women in the Workforce & Impact of 2020 Job Loss
Women in the workforce made up 50.04% of employees at the beginning of 2020.
By December, women in the workforce accounted for only 49.7% of total jobs. Overall, women’s positions have been hit the hardest. Shockingly, women lost 100% of the jobs that were eliminated in December 2020 (women lost 156,000 jobs while men gained 16,000 jobs).
While many industries have recovered jobs since the start of the pandemic, the unemployment rate for women was at 6.3% as of January 2021. In January 2020, it was 3.5% – proving that women are either not recovering their jobs as quickly or are opting to remain unemployed long-term.
Not only is involuntary job loss impacting females, but voluntary job loss is up. Women in the workforce – especially those in middle management – are leaving the workforce. Many of them point to Covid-related issue as drivers for making this decision.
Our infographic explores:
- Effect of 2020 job loss on women in the workforce.
- Key drivers behind voluntary separations from your female leaders.
- Ways to retain this key talent.
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IMPACT Group is a WBE-certified global leader in leadership development, relocation support, and outplacement assistance. We offer leadership development programs for employees at all levels in their careers. As a second-generation woman-owned business, we are passionate about women in the workforce. IMPACT Group leverages our expertise to deliver Women in Leadership™, High IMPACT Coaching, and Executive Coaching programs at organizations around the world.
Explore Our Women in Leadership™ Program
As a second-generation, woman-owned business, IMPACT Group takes the development of women leaders personally. Our Women in Leadership™ coaching program applies our three-part career accelerator model to coach women to recognize and enhance their personal effectiveness, business acumen, and corporate visibility.
“My coach has been amazing. She asks thought provoking questions which forces me to look at experiences through a different lens. She makes me come to my own conclusions, which at first I thought was super challenging, but now I see the value in it.” – Program Participant
More Resources: Women in Leadership Program
Explore More Women in the Workforce Resources
It may be 100 years since women fought for the right to vote, but inequality in the workplace is still a big problem. Investigate the issues and gather data. See if the very design of your policies and practices hinder women leaders from rising in their career. Taking action to root out such bias helps pave the way for gender equality in the workplace. It also improves business outcomes by allowing everyone to do their best work. Explore our other resources for women leaders to continue learning.