Female Employment and the Coronavirus Pandemic

Abstract

This paper analyzes the differentiated effects of the COVID-19 lockdowns and partial industry shutdowns on female and male employment by observing historical employment level data and by evaluating its growth rates statistical significance. Early 2020 U.S. employment data showed a stronger negative aggregate growth for women (-17.88% compared to -14.28% for males). Descriptive statistics by business cycle phase on female and male employment levels over time lend support to a disproportionate impact on women during the COVID pandemic, the statistical significance of which is formally evidenced via a rolling-windows analysis. These findings have important policy implications. For example, while the CARES Act unveils its specific advantages for women through payments for children and halted student loan repayment requirements, there may be more appropriate actions for policymakers to target most heavily impacted groups.