Economic Trends Impacting Women in the Workforce

The global economy has been subject to several significant shifts and crises in recent years, impacting workers across all sectors. However, women in the workforce have faced unique challenges due to these changes, often exacerbating preexisting gender inequalities. In this article, we’ll examine recent economic trends and crises globally, their effects on women across industries, and strategies for women professionals to navigate these challenges.

The Impact of Recent Economic Trends and Crises

Global Economic Shifts

The COVID-19 pandemic catalysed one of the most significant economic upheavals in recent history. It led to widespread job losses, particularly in sectors predominantly employing women, such as hospitality, retail, and healthcare. Research indicated women globally lost over 64 million jobs in 2020, a 5% loss compared to 3.9% for men.

Technological Advancements

Rapid technological advancements have transformed industries, creating a demand for new skills while rendering others obsolete. Women, who are often underrepresented in STEM fields, are at a disadvantage. The World Economic Forum’s Global Gender Gap Report 2021 highlights that women are less likely to be employed in high-growth industries, such as information technology and engineering.

Economic Crises and Inequalities

Economic crises tend to amplify existing inequalities. For example, the informal economy — where women are overrepresented — is often the hardest hit during economic downturns. Women in these roles therefore faced significant setbacks due to reduced income opportunities during the pandemic.

Climate Crisis Impacts

The impacts of the ongoing climate crisis are far-reaching, affecting ecosystems and economies alike. Women are disproportionately impacted economically, as new burdens exacerbate existing gender inequalities. Women, particularly in low-income communities and developing countries, are often more dependent on natural resources for their livelihoods, such as agriculture and water collection. As climate change leads to more extreme weather events, resource scarcity, and environmental degradation, these women face increased challenges in maintaining their income and supporting their families.

Additionally, the burden of unpaid care work, which typically falls on women, intensifies during climate-related disasters, further limiting their economic opportunities and resilience. This combination of factors deepens the economic vulnerability of women, making gender-sensitive climate policies essential for equitable development.

Remote Work and Flexibility

The shift towards remote work brought about by the pandemic has been a double-edged sword. While it offers flexibility, it also blurs the lines between work and home life, disproportionately affecting women, who often bear the brunt of domestic responsibilities. Studies show that women are more likely to leave the workforce due to the pressures of managing work and family life simultaneously.

Strategies for Women in the Workforce

For working women, these challenges are daunting, but they are not insurmountable. While governments, businesses, organisations, and communities all have their part to play in promoting economic equality, there are steps that women can take as individuals to improve their situation and promote lasting change.

Upskilling and Reskilling

Adapting to the changing job market is crucial. Women should seek opportunities for upskilling and reskilling, particularly in high-growth sectors such as technology and digital marketing. Online platforms and institutions offer numerous courses that can help women stay competitive.

Networking and Mentorship

Building a strong professional network and seeking mentorship can provide women with the guidance and support needed to navigate their careers. Women should actively participate in industry events, join professional groups, and seek out mentors who can offer advice and open doors to new opportunities.

Advocating for Equal Opportunities

Women must advocate for equal opportunities in the workplace. This includes pushing for fair pay, flexible work arrangements, and support for career development. Organisations should also implement policies that promote gender diversity and inclusion at all levels.

Leveraging Remote Work Benefits

While remote work can be challenging, it also offers opportunities for flexibility and work-life balance. Women should negotiate for remote work options where possible and utilise tools and strategies to manage their time effectively.

Employment Programmes With Generation

At Generation, we offer a range of employment programmes that address the needs of job seekers by providing training and support to launch successful careers. Our programmes are tailored to different industries, helping learners gain the skills and experience necessary to thrive in today’s labour market.

By providing industry-specific training, mentorship, and job placement services, we help people around the world overcome barriers to employment, achieve sustainable careers, and improve their economic mobility. If you’re looking to enter technology, healthcare, or other high-growth sectors, Generation’s tailored programmes can bridge the gap between your current skill set and the demands of the workforce. Explore our offerings today to unlock new career opportunities and achieve professional success.

At Generation, we’re making a life-changing career available to anyone, anywhere. Explore our employment programmes to see the professions we support, or donate today to help us create career opportunities for our learners!