This year has sent various curveballs our way. One of the biggest switch-ups being COVID-19 that sent ripples through the world and the majority of our lifestyles. Instead of going about our regular day-to-day lives, the majority of us were spending more time at home — more than we’ve ever had to. Not only did this directly affect our everyday routines, but it was also a shock to the job market. Many of us lost our jobs or got hours cut, and many of those that did were women.
Understandably so, many companies had to shut doors and halt production to help save their workers from the unknown. Yet, women seem to have been the first to go in some situations. Many are starting to label this recession as a she-cession — pointing out the overwhelmingly negative effects on working females. Not to mention, 47 percent of jobs held by women are within the three industries hit hardest by COVID-19; hospitality, education, and health services.
Not only does this take your career for an unexpected detour, but it also hinders your budget. For instance, making rent or paying for groceries becomes harder than normal when you don’t have your monthly income to fall back on. To add to cake, many industries had to shut down operations for a short period of time to stop the spread. Many of those industries were ones that people could benefit off of after losing their jobs; the service, hospitality, and educational services.
When the going got tough, the only thing many people had to fall back on was the government. As things start to pick up and we’ve established healthier routines, there are some different easy to position yourself while getting back into your field of interest. First, start by creating a career plan, and a backup plan for any other curve balls that could come your way. Then, promote your growth and prioritize your budget.
For instance, earn a career in what you’re passionate about, but also build skills in areas you know could withstand another economic downturn. Track your growth in these areas to consistently update your resume for any unknowns that could come your way. As you start out with those few areas of interest, create a budget that works for you and your lifestyle. Start paying off more debts and build your savings for any financially threatening future events.
Check out the infographic below for more insight about the she-cession and tips to navigating this change.