The Economist article, “How COVID-19 Triggered America’s First Female Recession in over 50 Years” highlighted SF Fed research by Olivia Lofton, Nicolas Petrosky-Nadeau, and Lily Seitelman, from their working paper, “Parents in a Pandemic Labor Market.”
The article notes that recent lower labor market participation among women reflects both differences in parental responsibilities during the pandemic and large job losses in female-dominated sectors.
The Federal Reserve Bank of San Francisco (SF Fed) serves the public by promoting a healthy, sustainable economy, and supporting the nation’s financial and payment systems. With offices in Los Angeles, Seattle, Salt Lake City, Portland and Phoenix, the Bank serves the Twelfth Federal Reserve District, which includes one-fifth of the nation’s population and represents the world’s fourth-largest economy. As part of the nation’s central bank, the SF Fed informs monetary policy, regulates banks, administers certain consumer protection laws and acts as a financial partner to the U.S. government.