Working women lost four times their confidence compared to working men, and 30 percent of Gen Z professionals are worried about the lack of jobs
The second wave of COVID has caused a lot of damage to the people, as many working women in India are worried about the availability of jobs. Women are finding it harder to find jobs than working men. This has been claimed in the LinkedIn Workforce Confidence Index report released on Tuesday. Loss of job and income is affecting women more than men. The term has been coined by C. Nicole Mason, president and chief executive of the Women’s Policy Research Institute (IWPR), a thinktank.
The report, based on survey responses from 1,891 professionals from May 8 to June 4, showed how Indian professionals faced struggles after the second wave of the pandemic. Its effect was especially seen in Generation Z and working women. Women were found to be in a worrying position regarding employment amid economic uncertainty.
Shocking disclosure in the report
The study found that the confidence of working women decreased four times as compared to working men. This disproportionate impact has also affected the financial stability of working women, as one in four (23 percent) women professionals are concerned about rising expenses or debt. On the other hand, only one in 10 working men (13 percent) appeared concerned in this regard.
The recent peak of the pandemic in India has also increased the importance of work experience and professional connections, as young Indians are more than twice as concerned about the impact of COVID-19 on their careers than their older counterparts. Nearly 30 percent of Gen Zs were found to be troubled by the lack of professional jobs, compared to 18 percent of Baby Boomers.
effect of corona
Ashutosh Gupta, India Country Manager, LinkedIn, said in a statement, “As India slowly begins to emerge out of the second wave of COVID-19 cases, we see a year-on-year recruitment rate of 10 per cent in April. At the end of May from the lower level, it recovers up to 35 percent. Despite this modest revival, the confidence levels of working women and young professionals are among the lowest in the workforce today.”
“Twice as many working women as working men are worried about job availability and 30 per cent Gen Z professionals are worried about lack of jobs,” Gupta said. Remote jobs (work from home) can be a beacon of hope, providing them with much needed flexibility and increased opportunities to help them bounce back into the workforce.”
Furthermore, the report showed that India’s overall workforce confidence declined in early March, with today’s overall score at 54 (down 4 points from 58 plus in March). This drop in confidence is strongly reflected in professionals in creative industries such as entertainment, design and media and communications, who have spoken of being uncertain about the future of their employers.
But as many parts of the economy slowly reopen, professionals in software and IT and hardware and networking are becoming increasingly confident about the future of their organizations. Furthermore, flexibility and work life balance are now as important as pay and benefits. This growing demand for flexibility comes at a time when work-from-home or remote opportunities are increasingly available. According to a recent labor market update, remote job postings have increased by 35 times in 2020 and have almost tripled year-on-year till May 2021.
(IANS)
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