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Navigating the Task: The Intersectionality of Financial Uncertainty

The global economic downturn will certainly affect everyone to some extent. This year has seen a record Unemployment figures and job losses, which disproportionately affect women and especially women of skin color. This is a unique situation for the 2020 economic recession, which is why many are calling it a "cession". We took a closer look at what causes this inequality and how you can manage your wellbeing.

Financial independence and prosperity have long been excluded. The core elements for achieving wealth are career growth and property, which excluded women for centuries. This gap remains to this day 63 percent Part-time workers are women. In addition, women only own 37 percent Yet women have seen increases in social and wealth equity around the world in recent decades.

December 2019 Setting records as women had more payrolls than men. The representation of women in management positions increased 29 percent also in 2019 despite the Widening the pay gap up the career ladder.

This gap becomes clearer when you look at the statistics for women with skin color. Make black female executives 62 cents to the dollar a white male manager makes. White women put on make-up 32 percent of all leadership positions, while black and Latin American women make up four percent and Asian women make up just three percent. The good news is that companies are making a commitment Racial justice internally through wage and leadership opportunities as well as donating millions to reform and social justice to influence systemic change.

How economic downturns disproportionately hurt women at work

The number of unemployed has more than decreased overall 24 million between February and April 2020. This is more than double the increase in unemployment in two years of the Great Depression in just three months. 11.5 million of those who have lost their jobs have been women compared with nine million men.

The main industries affected were hospitality, education, and healthcare – three industries that make up 47 percent of jobs for women. Additionally, 14 percent of Hispanic women have hospitality jobs, reducing the workforce by 39 percent.

The disproportionate share of entry-level positions of women and women of skin color is associated with this COVID-19Due to the direct impact on predominantly female sectors, women were particularly vulnerable to this recession. However, Job postings are returning and the industry is showing signs of recovery. There are steps you can take to prepare and protect your wealth for future difficulties.

Learn more about the making of the assignment and tips on how to deal with your emotional and personal life financial well-being.

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