These kind of slights compound. They cause too many and, devastatingly, some economists to conclude women are either not good enough to do what they do and draw the crowds to games. When, in reality, they are being held to a higher standard with fewer resources to achieve.
The result is an economy that is grossly inefficient and growing much less than it could if all its potential were unleashed. Leveling the playing field, in this case, would ⬆️ the competitiveness of the game, enhance earning power and boost the economy.
Leveling the playing field would also create more role models for girls that they can succeed in different ways. In that way, leveling the playing field pays it forward. There’s a reason that the first thing developing economies do to develop is to ⬆️ opportunities for women.
We need to start thinking about triggering virtuous instead of vicious cycles across a whole spectrum of bias. The pandemic exposed and exacerbated inequality. In doing so, it allowed us to see our own reflection in a mirror and gave us an opportunity to change what we see.
The revelations are nothing new to too many, but the concept that such a horrific disaster could be a catalyst instead of an even worse catastrophe is new. We need to embrace the concept of the disaster being a catalyst to learn & grow from it — all in, body and soul.

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More from @DianeSwonk

21 Mar
Some thoughts on inflation. Bond market participants rode a multi-decade deceleration in inflation. That came at a cost over last two decades as wages decelerated as well. Some of gap between men and women was closed bc male-dominated (mfg & construction) jobs fell.
The Fed has shifted its stance on inflation. It has said 1) It would “look through” - not raise rate later - a transitory flare in inflation. This will come in 2 ways - inflation measures get easier to beat, starting in Mar, as prices decelerated/dropped as crisis hit yr ago.
The Fed shouldn’t be curbing the recovery to contain inflation that is a result of a technicality triggered by the crisis. It should abate. However, just as those “base effects” as they are called play out as we move into summer, we could see flare in prices tied to reopening.
Read 11 tweets
19 Mar
Some thoughts on how to think about the rebound. What was hoped would be a sprint has become a marathon of a pandemic with hurdles along the way. We have just crossed our proverbial hardest mile. Fatigue set in this winter.
Vaccinations and a lot of fiscal stimulus has given us a much needed shot of adrenaline. We replaced incomes while waiting for jobs to come back, and then some. The euphoria is already unleashing pent-up demand for travel, indoor dining, spas, gyms, etc.
Domestic air travel hit its highest level in over year in recent weeks. Popular domestic spots will see a surge as travel to other countries will remain suppressed. This will shift some spending away from goods to services.
Read 15 tweets
10 Mar
One reality that gets lost in translation when discussing emergency aid and stimulus plans is how important they have been in keeping the US from a double-dip recession as we have seen abroad.
The rebound in growth last spring was triggered in large part because of the funding triggered by the CAREs Act. It was much more robust than elsewhere but then the momentum on jobs petered out over the summer and into the fall, as another wave hit the Sunbelt.
People moved indoors without masks in scorching heat, which bolstered transmission of an airborne virus. This overwhelmed hospitals and triggered fear & restrictions that slowed pace of job growth. The cushion provided by the CAREs Act for the millions unemployed ran out.
Read 16 tweets
11 Dec 20
Where are we?

The the resurgence in COVID cases, hospitalizations and deaths is overwhelming our health care system.

Employment slowed to a crawl in Nov as temps dropped and restaurants and bars cut back or closed for good. Traditional retailers cut back or closed for good...
State and local governments shed jobs, mostly in education for the fourth month in a row.

Cases and hospitalization predictably picked up *again* as social distancing was discarded and community spread of COVID during the Thanksgiving holiday.
The percent of the labor force working from home in November edged higher. They spent online and created a false sense of security about how well the economy is holding up and the prospects for a rebound once we are all vaccinated.
Read 20 tweets
18 Nov 20
I was working on a long thread of all the work I have done on the risk we are going into a double dip recession - we are - and the scars left by COVID. I realized no one reads it. So here is the short version. Spoiler - it still long.
Low-wage workers hit harder than high-wage workers but don’t get too comfortable in your work-from-home bubble as that could change if this recession metastasizes into a more traditional recession w say a lot of zombie firms and a moribund commercial real estate mkt.
Black, Hispanic, Native American and Asian workers hit harder than white workers.

Women hit harder than men.

Millennials hit hardest of age groups w job losses. They were already trailing other generations w blow to lifetime earnings due to 08-09 recession.
Read 15 tweets
17 Nov 20
Retail sales rose only 0.3% in Oct after downward revisions in Sep. That marks slowest pace since height of job losses in April. Vehicles rose slightly, despite a drop in unit sales. The pandemic has triggered demand for more expensive luxury, SUVs and pickup trucks.
City dwellers are looking for safer modes of transportation, while higher wage households needed larger vehicles to tow boats and RVs. Home bullders also need pick up trucks to transport building materials.
Only big positives in categories were online, electronics and building materials. Apple product introductions are a major mover for electronic sales. Gains at big box discounters couldn’t offset a drop at traditional department stores. Much of those sales were online.
Read 5 tweets

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