[go: up one dir, main page]
IDEAS home Printed from https://ideas.repec.org/p/mrr/papers/wp447.html
   My bibliography  Save this paper

Gendered Impacts of COVID-19 on Economic and Retirement Security

Author

Listed:
  • María J. Prados

    (University of Southern California, Center for Economic and Social Research)

  • Jeremy Burke

    (University of Southern California, Center for Economic and Social Research)

Abstract
The COVID-19 pandemic had severe impacts on the U.S. labor market with particularly large effects on working women. We use longitudinal survey data from a nationally representative internet panel to (1) document the pandemic’s gendered effects on employment and short-term financial stability and examine heterogeneity by race and ethnicity, marital status and household composition, and (2) use respondents’ earnings histories and expectations about future labor market participation and retirement age to forecast the impact on Social Security retirement benefits. Overall, while we find evidence that women suffered larger employment losses than men during the pandemic, consistent with prior research, our evidence suggests that the gender gap in employment was driven, at least in part, by women from traditionally more economically advantaged groups — white women, married women, and women in households with high incomes — leaving the workforce. We find little evidence that gender disparities in short-term economic stability grew as a result of the gender differences in employment. Rather our estimates suggest that gender gaps in short-term financial stability decreased over the first year of the pandemic, in part due heterogeneous effects from the stimulus. Despite the gender differences in employment dynamics for certain groups, we find no evidence of differential impacts on our forecasts for Social Security retirement benefits. Collectively, our evidence is consistent with the possibility that gender difference in employment was driven in part by relatively financially stable women voluntarily leaving the workforce.

Suggested Citation

  • María J. Prados & Jeremy Burke, 2022. "Gendered Impacts of COVID-19 on Economic and Retirement Security," Working Papers wp447, University of Michigan, Michigan Retirement Research Center.
    • Handle: RePEc:mrr:papers:wp447
    as

    Download full text from publisher

    File URL: https://mrdrc.isr.umich.edu/publications/papers/pdf/wp447.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Gema Zamarro & María J. Prados, 2021. "Gender differences in couples’ division of childcare, work and mental health during COVID-19," Review of Economics of the Household, Springer, vol. 19(1), pages 11-40, March.
    2. Adams-Prassl, Abi & Boneva, Teodora & Golin, Marta & Rauh, Christopher, 2020. "Inequality in the impact of the coronavirus shock: Evidence from real time surveys," Journal of Public Economics, Elsevier, vol. 189(C).
    3. María J. Prados & Arie Kapteyn, 2019. "Subjective Expectations, Social Security Benefits, and the Optimal Path to Retirement," Working Papers wp405, University of Michigan, Michigan Retirement Research Center.
    4. Marco Angrisani & Jeremy Burke & Arie Kapteyn, 2021. "The Early Impacts of the Coronavirus Pandemic on Americans\rquote Economic Security," Working Papers wp426, University of Michigan, Michigan Retirement Research Center.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Ayllón, Sara, 2022. "Online teaching and gender bias," Economics of Education Review, Elsevier, vol. 89(C).
    2. Lídia Farré & Yarine Fawaz & Libertad González & Jennifer Graves, 2022. "Gender Inequality in Paid and Unpaid Work During Covid‐19 Times," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 68(2), pages 323-347, June.
    3. Kairon Shayne D. Garcia & Benjamin W. Cowan, 2024. "Childcare Responsibilities and Parental Labor Market Outcomes During the COVID-19 Pandemic," Journal of Labor Research, Springer, vol. 45(2), pages 153-200, June.
    4. Thomas F Crossley & Paul Fisher & Hamish Low & Peter Levell, 2023. "A year of COVID: the evolution of labour market and financial inequalities through the crisis," Oxford Economic Papers, Oxford University Press, vol. 75(3), pages 589-612.
    5. Saudi‐Yulieth Enciso‐Alfaro & Salma Marhroub & Pedro‐José Martínez‐Córdoba & Isabel‐María García‐Sánchez, 2024. "The effect of COVID‐19 on employment: A bibliometric review of a she‐cession," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 31(4), pages 3444-3467, July.
    6. Mello, Marco & Moscelli, Giuseppe, 2022. "Voting, contagion and the trade-off between public health and political rights: Quasi-experimental evidence from the Italian 2020 polls," Journal of Economic Behavior & Organization, Elsevier, vol. 200(C), pages 1025-1052.
    7. Blázquez, Maite & Herrarte, Ainhoa & Moro-Egido, Ana I., 2024. "Has the COVID-19 pandemic widened the gender gap in paid work hours in Spain?," Journal of Demographic Economics, Cambridge University Press, vol. 90(2), pages 313-348, June.
    8. Claudia Andrade & Martie Gillen & José Alberto Molina & Melissa J. Wilmarth, 2022. "The Social and Economic Impact of Covid-19 on Family Functioning and Well-Being: Where do we go from here?," Journal of Family and Economic Issues, Springer, vol. 43(2), pages 205-212, June.
    9. Stefano Costa & Stefano De Santis & Giovanni Dosi & Roberto Monducci & Angelica Sbardella & Maria Enrica Virgillito, 2021. "Firm responses to the pandemic crisis: sticky capabilites and widespread restructuring," LEM Papers Series 2021/48, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
    10. Stefanie Stantcheva, 2022. "Inequalities in the times of a pandemic," Economic Policy, CEPR, CESifo, Sciences Po;CES;MSH, vol. 37(109), pages 5-41.
    11. Livia Alfonsi & Mary Namubiru & Sara Spaziani, 2024. "Gender gaps: back and here to stay? Evidence from skilled Ugandan workers during COVID-19," Review of Economics of the Household, Springer, vol. 22(3), pages 999-1046, September.
    12. A. Cetrulo & D. Guarascio & M. E. Virgillito, 2022. "Working from home and the explosion of enduring divides: income, employment and safety risks," Economia Politica: Journal of Analytical and Institutional Economics, Springer;Fondazione Edison, vol. 39(2), pages 345-402, July.
    13. Corinne Dubois & Luisa Lambertini & Yu Wu, 2022. "Gender effects of the COVID-19 pandemic in the Swiss labor market," Swiss Journal of Economics and Statistics, Springer;Swiss Society of Economics and Statistics, vol. 158(1), pages 1-29, December.
    14. Giulia Bettin & Isabella Giorgetti & Stefano Staffolani, 2024. "The impact of Covid-19 lockdown on the gender gap in the Italian labour market," Review of Economics of the Household, Springer, vol. 22(1), pages 1-33, March.
    15. Despina Gavresi & Anastasia Litina & George Mavropoulos & Sofia Tsitou, 2024. "The Role of Gender and Family Norms on the COVID-19 Spread in Europe," Discussion Paper Series 2024_06, Department of Economics, University of Macedonia, revised Jun 2024.
    16. Brindusa Mihaela RADU & Mariana BALAN, 2022. "The Covid-19 Pandemic: Labour Market Implications For Youth Women," Internal Auditing and Risk Management, Athenaeum University of Bucharest, vol. 66(2), pages 9-19, September.
    17. Myriam Chatot & Julie Landour & Ariane Pailhé & for the EpiCOV team, 2023. "Socioeconomic differences and the gender division of labor during the COVID‐19 lockdown: Insights from France using a mixed method," Gender, Work and Organization, Wiley Blackwell, vol. 30(4), pages 1296-1316, July.
    18. Salima Kasymova & Jean Marie S. Place & Deborah L. Billings & Jesus D. Aldape, 2021. "Impacts of the COVID‐19 pandemic on the productivity of academics who mother," Gender, Work and Organization, Wiley Blackwell, vol. 28(S2), pages 419-433, July.
    19. Dubois, Corinne & Lambertini, Luisa & Wu, Yu, 2022. "Gender Effects of the Covid-19 Pandemic in the Swiss Labor Market," FSES Working Papers 525, Faculty of Economics and Social Sciences, University of Freiburg/Fribourg Switzerland.
    20. Sabrina Wulff Pabilonia & Victoria Vernon, 2023. "Who is doing the chores and childcare in dual-earner couples during the COVID-19 era of working from home?," Review of Economics of the Household, Springer, vol. 21(2), pages 519-565, June.

    More about this item

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:mrr:papers:wp447. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MRRC Administrator (email available below). General contact details of provider: https://edirc.repec.org/data/isumius.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.