2.5M women left workforce during coronavirus pandemic: Report
FOX Business’ Lydia Hu on how the coronavirus has impacted women in the workforce and how one female business owner has adapted to the pandemic.
Women have been among the hardest hit during the pandemic with the female labor force participation rate remaining near 33-year lows.
Within the past year, 2.5 million women have dropped out of the workforce compared to only 1.5 million men. Although women are slowly getting back to work, the numbers still indicate a struggle.
INTERNATIONAL WOMEN'S DAY 2021- LET'S BE THE DIFFERENCE AND ASK 'CAN WE HELP?'
Even in the face of hardships, several women-run businesses have found opportunities to overcome workforce woes, including a bridal store in Brooklyn run by female entrepreneur, Andrea Pitter.
The female-owned shop is thriving after it pivoted to meet new needs in the pandemic as large wedding ceremonies dwindled, severing the demand for big gowns. Pantora Bridal’s new, ready-to-wear collection reflects the recent trend of brides getting married in their backyards, at home, small intimate ceremonies with just close family, according to FOX Business’ Lydia Hu.
“It’s one-word: innovation,” FOX Business’ Hu told Varney & Co. “The pandemic has really hit all business sectors hard, but particularly the bridal industry, especially here in New York because they had to shut down so many big ceremonies and weddings over the past year. So they innovated. They pivoted.”
HERE ARE THE BEST JOBS IN AMERICA IN 2021
The new line has kept Pitter’s business busy over the past year and maintained a steady stream of customers coming to them for their bridal needs.