Women faced more economic challenges in 2020

Women experienced more economic challenges in 2020 than men, Federal Reserve Chair Jerome Powell remarked last week. As schools and day care centers remained closed, many women had to leave their jobs to take care of their children at home. In March 2020, women suffered greater job losses than men due to their work in frontline jobs such as health care and public-facing sectors. In April 2020, the unemployment rate for women was 16.1%, compared with 13.6% for men. Women, particularly mothers of young children, are still less likely to be working or looking for work than are fathers or women without children.

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