Well, you knew it was coming: the inevitable articles about whether women or men weather this type of downturn better.
Real answer: Neither.
Other answer: It depends.
We don’t have full information, but it seems to us that it depends upon the lines of privilege, with women losing their jobs to a greater degree. Since women are more likely to live in poverty to start with, the impact of a job loss can be even more life-disrupting.
But for those women who have some financial stability — those who are able to invest — the impact might be less. That’s because women tend to look at their investments less, leave them alone more, and not panic as much. That can enable them to recover more fully, more quickly.
So OK.
But here’s the other question that isn’t yet being asked: Who do we wish would come out with greater power and responsibility on the other side? Who do you wish were in charge?
I know my answer: The moms of the world.
In fact, there’s a story I’ve seen making the rounds, about a characteristic that countries handling the pandemic well have in common:
Image: 20 FIRST/Forbes
I know, I know, I know. We’ve been socialized to recoil from women seeking power. But just sayin’. The moms of the world take care of sick people. And they don’t take no for an answer when it comes to their community.
Maybe that’s why women leaders sponsor more bills and pass more laws, and introduce more health-related legislation.
Frankly, I know my mom would have never have let the pandemic get this far. And certainly not before sending us all to our rooms … I mean, into “shelter in place.”
An important note: This broader question might not matter to you much if it’s you who’s lost your job. Or if it’s you who’s scared. And here are our resources for that:
Our free workshops for the week:
What Should I Be Doing With My Money? Answers to Five Common Questions, Wednesday, April 15 at 10 AM EDT. Sign up here.
What to Do If What to Do if You’ve Lost Your Job, Thursday, April 16 at 11 AM EDT. Sign up here.
How Investing Works and How to Think About Stock Market Volatility, Friday, April 17 at 11 AM EDT. Sign up here.
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