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Job losses, childcare and pension hits are a toxic mix

Coronavirus is setting back women’s careers by decades. Not only have they been more likely than men to lose their job or be put on furlough, they are also taking on a greater burden of childcare and household duties in lockdown, research has shown.
This has put thousands of women in a position where they must choose between taking unpaid leave, cutting down their hours or quitting entirely. The impact could last a generation. Experts have predicted that the pandemic and subsequent economic fallout could delay the closing of the gender pay gap, the difference between average male and female earnings, by 30 years.
The hit to their pensions will also be significant. Telegraph Money calculated that women taking an extended career break to look after children during coronavirus could end up 12,000 poorer in retirement.
Prime Minister Boris Johnson’s latest announcement of a 5bn injection to boost infrastructure and construction is welcome news, however it may well deepen these gender divides. No financial promises were made for the social care sector, which is in dire need of support and whose workforce is 80pc female.
The same amount of money invested in care would create almost three times as many jobs than investment in construction: six times as many for women and 10pc more for men, analysis by research centre the UK Women’s Budget Group shows.
The Telegraph has launched a campaign, Equality Check, urging the Government to close the lockdown gender gap. Our open letter calling for support for women’s finances, careers and sport was signed by some of Britain’s biggest names including Dame Helena Morrissey, former Home Secretary Amber Rudd and sports stars Denise Lewis and Dame Jessica Ennis-Hill.
Are there any ways you are noticing lockdown worsening the economic divide between men and women? Let us know by emailing marianna.hunt@telegraph.co.uk.
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In our comments section, Derek Clews said of Scrapping the state pension triple lock could plunge pensioners into poverty: "Given that the maximum new pension is half the minimum wage, it cannot be considered high enough to relax the triple lock. A third of pensioners have little else to live on and most people will not get the maximum in future due to the rules around contracting in or out. Is the intent that large numbers of retired people end up on other benefits? How is that cheaper?"
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