: occupation, family, and gender, ” journal of economic perspectives 35 ( summer 2021 ) : 3 – 24, https : / / www. aeaweb. org / articles? id = 10. 1257 / jep. 35. 3. 3. this is one reason why female unemployment rose dramatically in comparison to male unemployment during the spring of 2020. women ’ s labor participation declined as the pandemic affected their ability to participate in the workforce. the lockdowns and layoffs in response to covid disrupted daycare centers, schools, and other organized childcare, which continue in some areas even today. traditional family supports, like extended family and grandparents, were also limited due to concerns about the virus and social distancing. another factor was that caregiving responsibilities increased significantly during the pandemic, especially for women, including those who were participating in the workforce. balancing work and family obligations has long been the reality for women. studies have shown that women spend about twice as much time caring for and helping with children than men, and there is a significant disparity in many families where both men and women work. even before the pandemic, most working mothers said they came home to a “ second shift ” of work. the pandemic served to amplify those family responsibilities, and i don ’ t think it is surprising that as a result women dropped out of the workforce at a higher rate than explained by industry - mix and labor dynamics. even more striking, the data show that while labor force exits increased for all women, they increased by more among women living with children under the age of six. 4 we saw more exits by single mothers and mothers with lower earnings at the beginning of the pandemic, perhaps because they were less able to find alternative childcare arrangements. even now, as childcare centers have reopened, worker shortages and related cost increases are limiting the number of children who can be cared for at each facility. higher childcare costs impact single katherine lim and mike zabek, “ women's labor force exits during covid - 19 : differences by motherhood, race, and ethnicity, ” finance and economics discussion series 2021 - 067 ( washington : washington : board of governors of the federal reserve system, 2021 ). https : / / doi. org / 10. 17016 / feds. 2021. 067. and lower - income mothers disproportionately. therefore, i see a risk that

lack of childcare availability will continue to hold women back from participating in the labor force, which could be a drag on the economy. the final factor to consider is retirements. many older workers who left the labor force are unlikely to return, and more of those workers were women. the bureau of labor statistics reports that labor force participation among women 65 and older has fallen significantly more sharply than among men. many additional workers over 55 dropped out of the labor force and over time will effectively retire. the loss of these workers will limit the productive capacity of the economy, and may make it harder, or even impossible in the near term, to return to the high level of employment achieved before the pandemic. long - term effects as the economic expansion continues, the lingering effects of the pandemic could have long - lasting implications for women ’ s job opportunities and in the longer term for their careers. as the job market strengthens, many women, particularly minority women, say they are considering returning to the labor force. 5 history tells us that the longer workers remain out of the workforce, the less likely it is that they will return to employment and the greater the likelihood that they will lose skills and connections with the job market, which could weigh on labor force participation and earnings for years to come. there are also effects that are difficult to quantify on the careers of parents who have to juggle even more responsibilities. 6 employees who kept their jobs but reduced their hours or struggled to balance work and home life may find themselves in weaker positions for promotions, raises, and other advancement. lim and zabek, “ women ’ s labor force exits. ” misty l. heggeness, “ estimating the immediate impact of the covid - 19 shock on parental attachment to the labor market and the double bind of mothers, ” review of economics of the household 18 ( october 2020 ) : 1053 – 1078, https : / / link. springer. com / article / 10. 1007 % 2fs11150020 - 09514 - x. these issues extend to women business owners. compared to male business owners, women have reported worse financial health and have less confidence in the future of their businesses. 7 some longer - term factors affecting women ’ s careers are hard to measure, and it may be some time before the full effects of the pandemic are clear. even those who are working may face fewer opportunities to switch careers, or their employment and finances may