“The she-cession is what we’re in, which is a recession in which women are disproportionately hurt...'
Ellevest CEO Sallie Krawcheck in an appearance on CNBC Monday broke down multiple ways that the economic crisis stemming from the global pandemic is impacting women, especially women of color.
"Sadly, women went into this downturn with 32 cents of wealth to a White man's dollar," she said. "For Black women [and] Brown women, 1 penny of net worth to a White man's dollar, and, unfortaunley, [they] are going backwards at a greater rate." The ongoing pandemic has most affected the travel, education, health services and retail sectors, where women are more likely to labor in, Ellevest explained in aWhile Ellevest's mission is to empower women with money management skills and financial planning services to close the gender wealth gap, the company is trying to play its part to dismantle white supremacy, she said. That includes by fixing the leadership within its own ranks.
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