The Covid-19 Pandemic Has Resulted in Massive Financial Losses for Women

While it has now become an accepted fact that the people of the world have suffered greatly at the hands of the pandemic, especially due to the negative impact it has had on their ability to earn a living to support themselves. With all of that having been said and now out of the way, it is important to note that not all groups have been impacted equally in this regard. In fact, it would be fair to say that quite a few groups have actually been impacted in a far more severe manner, with women being one of the most seriously afflicted groups out there according to a recent report by Oxfam International.

It turns out that women lost about 5% of the jobs they had held before 2020, coming to a total of 64 million. Men only lost 3.9% of the jobs they held so there is clearly a disparity here that should be addressed at some point. If you look at it from a financial standpoint, the total loss of income that women of the world experienced amounts to a massive $800 billion which is a huge number by any measure.

There was already a sizeable gap between the wealth that men possess and that which is possessed by women, and this pandemic is only going to make this gap larger. This proves to an extent that women are usually more vulnerable than men when it comes to their employment, and it will take a really long time for them to get back into the positions that they were at before the pandemic. Impacts like this don’t get reversed all that quickly, and many of the positions that women lost were in the healthcare industry which has the potential to further exacerbate the fallout from this pandemic.

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