Women will leave the workforce absent a childcare industry bailout - Business Insider

Women leaving the labor force will impact the economy for decades, Betsey Stevenson, a labor economist at the University of Michigan and former member of President Barack Obama's Council of Economic Advisers, toldFamilies will have to reckon with not only lost wages from the years women are out of the workforce, but also the lost income in earning potential over their lifetimes.

"We're going to see what happens as women choose to take time out, as they scale back their hours, as they get sidelined in their jobs. All of those things will mean they're in a worse position in four and five years' time than they would have been without the pandemic," Stevenson told Stanton. in the coming years as men get further along in their careers, and women step back altogether or stay stagnant in exchange for flexibility, Floro said.

"It will be a step back to the progress that has been reached by women in the US in terms of the participation in the labor market. You might see a widening of the gender wage gap," Floro said. "The bottom line of this analysis is that without schools open and childcare available, we cannot get anywhere near a full recovery, because a good share of the workforce will be unable to work due to childcare needs," Doepke said. Something is loading.

Yet another reason why more women succumb to pension poverty. A total disgrace if Senate doesn't bail out childcare industry!

Maybe one party should exclude their non corona related stuff so that the actual corona relief can proceed.

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