The "Shecession" Is Underway

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A recession is always hard on everyone, but it looks like the current recession is affecting women the most. Now being dubbed as a ‘shecession,’ of the 20.5 million jobs lost in April alone, a whopping 55 percent were jobs held by women, particularly those of ethnic backgrounds.

If you’re one of the countless who has been affected, chances are, the situation looks very dire from where you stand. Hope is not completely lost, however, because with adversity often comes opportunity. Let’s take a look at the measures you can take to leverage modern technology and your own God-given skills and talents to avoid the brunt of the shecession.

Recognize the opportunities

First thing’s first—know that there’s more than one way to earn an income online when you’re staying at home, whether by force or by choice. In fact, becoming self-employed or starting a side business from home could very well be your best bet during this difficult time. This is because commerce and industry are undeniably making the move to the virtual world and catching this wave could be the paradigm shift that you need to continue earning a viable living in this recession.

Interestingly, there are many lucrative opportunities online that are worthy of consideration. These can be anything from starting an inventory-based e-commerce business to the more passive dropshipping online business model. If selling is not your forte, offering your services as a remote worker is also worth exploring, as there’s no dearth of employers looking for freelancers for tasks like data entry, writing, and even tech development (to name just a few).

Bank on your skills

Speaking of freelancing, this is unquestionably among the most solid and lucrative ways to earn an income from home. And it’s especially true if you have sought-after skills that you can bank on and pursue, either full- or part-time. There’s little challenge in finding freelance jobs, too, as there are online job boards that connect freelancers and the employers looking for them. So whether you’re looking for tech jobs like web or IT development or data science, creative opportunities in design or marketing, or even admin work like customer service or bookkeeping, it may be as simple as creating a killer profile that highlights your capabilities on the right hiring platform.

Of course, not everyone has the skills to be a successful freelancer right off the bat. However, it’s actually easier now than ever before to move toward this goal. Consider looking at online courses to learn the fastest-growing skills today, so you can hit the ground running as you start your freelance career. Learning life-changing skills might be the very thing that you need at this time to shift into a more fulfilling career.

Pursue your passion

If it’s a rewarding change you want, the recession can be an opportune time to pursue such an objective. In fact, if you’re passionate about something, you may actually be well-poised to turn it into a career or a business. You’ll be surprised at the ways you can turn something you love into a living—either by selling stuff, selling a skill, or selling knowledge.

Being hit by the recession is a difficult situation to deal with, but there’s always hope when you’re willing to think outside the box. The possibilities are endless, and this could be exactly that you needed to live a full and gratifying life for the long haul. And who knows? You may even find yourself thanking the shecession one day for giving you this all-important push.

 

Sarah Bull

Women Who Boss Contributor

sarah@economymom.com

2 comments

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