Covid-19 Second Wave Impact: Working Women's Confidence Dipped, Are More Worried Than Men, Reveals LinkedIn Survey

Twice as many working women in India are worried about job availability because of 'shecession', according to the LinkedIn Workforce Confidence Index report

Representational Picture (AFP)

New Delhi: It has always been a challenge for women to remain in the workforce, but the second wave of Covid has further worsened the situation because of 'shecession'. In India, twice as many working women in India are worried about job availability, according to the LinkedIn Workforce Confidence Index report released on Tuesday.

‘Shecession’ is defined as an economic downturn where job and income losses are affecting women more than men. Coined by C. Nicole Mason, president, and chief executive of the Institute for Women's Policy Research (IWPR), a thinktank, the term became popular signifying the impact on working women.

What are the findings of the report?

As per the study, working women's confidence level declined four times more compared to working men. The stark difference in the confidence also impacted the financial stability of working women as one in four (23 per cent) female professionals are concerned about growing expenses or debt, in contrast with just one in 10 (13 per cent) working men.

The current Covid situation also highlighted the need of work experience and professional connections, as the report found young Indians more than twice as worried as their older counterparts of the impact on their careers.

Almost 30 per cent Gen Z professionals are found to be worried due to lack of jobs, compared to 18 per cent baby boomers.

The overall workforce confidence also took a hit after peaking in early March, with a composite score of 54 plus today (down 4 points from 58 plus in March). This dip in confidence is reflected strongly across professionals from creative industries such as entertainment, design, and media and communications, who expressed being uncertain about the future of their employers.

What is LinkedIn projection?

With the second peak of the disease slowly fading, the social media platform estimated year-over-year hiring rate to recover from a low of 10 per cent in April to 35 per cent at the end of May. “Despite this modest revival, confidence levels of working women and young professionals are amongst the lowest in the workforce today," said Ashutosh Gupta, India Country Manager, LinkedIn, in a statement.

"Twice as many working women are concerned with job availability compared to working men, and 30 per cent of Gen Z professionals worry due to lack of jobs. Remote jobs can be the ray of hope, to provide the much-needed flexibility and growth in opportunities to help them bounce back into the workforce," Gupta added.

The report, based on the survey responses of 1,891 professionals from May 8 to June 4, revealed how the aftermath of the pandemic's second wave has left Indian professionals -- particularly Gen Z and working women -- increasingly vulnerable to the economic uncertainty in today's evolving job market.

But as several parts of the economy gradually reopen, professionals from software and IT and hardware and networking are growing increasingly confident about the future of their organisations.