May 2021: How Do We Avoid the Shecession?
Women around the world have been hit the hardest by the pandemic. All you need to do is read the headlines to understand the gravity of the challenges we face ahead. All I need to do is open my inbox and my messages to hear the stories of friends, family members, colleagues and coworkers who are overwhelmed, exhausted, and ready to see a light at the end of the tunnel.
In an NPR News story last fall, reporter Pallavi Gogoi noted:
“Women are seeing the fabric of their lives unravel during the pandemic. Nowhere is that more visible than on the job. In September…865,000 women left the U.S. workforce — four times more than men. The coronavirus pandemic is wreaking havoc on households, and women are bearing the brunt of it. Not only have they lost the most jobs from the beginning of the
pandemic, but they are exhausted from the demands of child care and
housework — and many are now seeing no path ahead but to quit working… The pandemic’s female exodus has decidedly turned back the clock by at least a generation, with the share of women in the workforce down to levels not seen since 1988.”
Think about that for a minute…
…We have turned back the clock 20+ years. And the scars will linger for a long time.
I don’t tell you this to scare you. I tell you this to spark a sense and urgency for ACTION. There is a light but we need to work to get there together.
It’s Time for Action, Not Just Words
If we don’t take immediate action, we are facing a return to a widening gender pay gap, leading to less savings and less overall wealth for women.
Professional women sidelined due to child and elder care duties, a future of promotions, earning power and leadership opportunities has been stifled.
We are also looking down the barrel of increasing inequality for BIPOC and AAPI professionals who are being hired back at a slower rate than white women and men.
An employment gap of just one year leads to a 39% decrease in annual earnings and increases over time.
As well, low-income, hourly wage workers lost the majority of jobs lost during the pandemic in the hospitality, care and service sector. These sectors will be the slowest to return to “normal” exacerbating the substantial income inequality that was already increasing pre-pandemic.
The statistics clearly outline the formidable job ahead:
- Women lost 5.3M jobs during the pandemic. Women’s labor force participation is at a 33-year low.
- Caregivers are in crisis. Nearly a million women who’ve left the workforce are mothers. Black, Hispanic, and single moms are among the most affected.
- Unemployment is higher for BIPOC women. Overall, unemployment stood at 6.3% in January. It was 5.1% for white women vs. 7.9% for Asian women, 8.5% for Black women, and 8.8% for Latinas.
My Commitment to Forward Action
This is not just a time to talk about numbers and statistics and postulate. I have been so inspired by the TARRA community in the last year, and I know that right now we need action, which is why TARRA is getting to work this spring with three events designed to celebrate, highlight and provide serious momentum for professional women and business owners across the state.
May 19: State of Women in Business with CWCC & Metro State University
TARRA has partnered with the Colorado Women’s Chamber of Commerce (CWCC) for the 5th Annual State of Women in Business event taking place virtually on May 19, 2021.
Together with research partner Metropolitan State University and sponsor HealthONE—community leaders, business owners, executives and research experts will dive into the reality of the Shecession caused by the COVID-19 pandemic.
This landmark event will feature a data presentation, community engagement opportunities, and the launch of CWCC and TARRA’s Getting Women Back to Work Executive Roundtable Discussion series, a four-part roundtable series harnessing Colorado thought leaders to determine a path forward.
Metropolitan State University President Janine Davidson will lead the first roundtable conversation during the State of Women in Business on May 19.
Subsequent roundtables will be closed to the public with a final community presentation to the public in September.
Register here for this event, which is free and open to the public.
May 13: Anti-Networking Kick Off to Slow Fashion Wknd with The Conscious Merchant
Who’s Ready for a Spring Anti-Networking Soiree to Celebrate Sustaining Small? Join us LIVE for the Slow Fashion Wknd Launch Party with Conscious Merchant inside Free Market at Dairy Block.
Replace the organic cotton sweatpants with your most daring and dashing sustainable fashion (and masks) for TARRA’s first live event in over a year!
As proud sponsors of Slow Fashion Wknd in partnership with The Conscious Merchant and Free Market, we’re inviting you to the preview launch party of the season.
What’s in Store
- Browse all the goods from some of Denver’s most celebrated local slow fashion designers and brands
- Meet & Greet: Learn how designers Mimi Shim, YOU4ic Fitwear, Mecla, Dante Perozzi Jewelry and Tenth & Spruce bring their ideas to life
- Privately shop all the sustainable goodies at The Conscious Merchant and Alchemy Works
- Nibbles and cocktails can be purchased through Bruto, then come visit us for socially distanced, masked-up anti-networking
May 1-May 31: MAX Clothing Stores & TARRA Launch a Month-Long Drive to Fund Mammograms for Women in Need
TARRA & MAX Clothing Stores is launching a drive to raise funds to provide low-income women in the Denver area with mammograms.
Launching May 1st, the month-long drive will benefit STRIDE Community Health Center, a non-profit Federally Qualified Health Center that provides health and community-based services to more than 50,000 underserved, uninsured and working individuals and families who need it the most.
“STRIDE sees thousands of women each year who are in need of a mammogram screening, diagnostic testing, and biopsies, yet receiving those services is difficult when the patient is uninsured or doesn’t qualify for other screening programs,” stated Laura Larson, Vice President of Development at STRIDE Community Health Center.
“Having access to additional funding ensures that we can help those patients access the resources and services they need, when they need it. We are grateful to MAX, for seeing a need and supporting STRIDE in addressing it.”
TARRA is a proud supporter of this wonderful initiative powered by MAX & Stride. Please join us by donating.
May 5: Say Hello to the Spring 2021 Class of Shifted Perspectives: TARRA Masterclass
Our Spring Masterclass kicked off in mid April with 10 brave business owners and entrepreneurs who are ready to tap into the power of community through intimate discussions and deep engagement about strategy, solutions and perspectives.
Introducing the Spring Class of 2021
Wendy Wright, Financial Therapist
Lakeisha Ashley, Founder & CEO of Blvcmrkt Boutique
Zoe Weston, Founder & Executive Director of Postpartum Care Foundation
Annette Blum, Leadership & Executive Coach
Dante Perozzi, Founder of Dante Perozzi Jewelry
Megan Schmer, Founder of Olive & Olde’s
Amanda Klein, Founder of Instant Interior Design
Elizabeth Faraci, Founder of Glimpse
Mary Marvelli, Founder of a new fiber studio in Denver
Laura Bennett, Life Coach and Founder of Laura Bennett Coaching
This crew is working with forward action to do the following and we can’t wait to share their journey with you.
- Clarify goals
- Create an action plan for success
- Connect with mentors in their field
- Achieve the results you have been looking for
- Develop a solution-oriented mindset
- Work around roadblocks
- Build accountability to move big ideas forward
- Get answers to their toughest questions
- Discover new perspectives
- Gain skills and share skills (we learn best when we teach)
- Develop leadership skills
- Find support for their biggest, most difficult decisions
- Establish productive and honest relationships with like-minded individuals
We are so inspired by these women for their initiative and drive to take their business to the next level.
As ever, thank you to this incredible community for your strength, resilience and love. My door is always open to learn more about what you need to thrive.
Kate Bailey, Founder & CEO, TARRA