The paper examines the impact of the COVID-19 pandemic on gender equality, focusing on both the immediate economic downturn and its potential long-term effects. Unlike regular recessions, which disproportionately affect men's employment, the current crisis has a significant impact on sectors with high female employment shares, such as restaurants and hospitality. Additionally, the closure of schools and daycare centers has increased childcare needs, particularly affecting working mothers, with single mothers being disproportionately impacted. The authors argue that the crisis may have both negative and positive effects on gender equality. On the negative side, the crisis is likely to disproportionately harm women's employment opportunities and earnings, as job losses are more severe for women. On the positive side, the crisis may promote gender equality through two main channels: the adoption of flexible work arrangements and changes in social norms regarding childcare and household labor. The paper provides evidence that many businesses are adopting more flexible work arrangements, which may persist, and that many fathers are taking on primary childcare responsibilities, potentially shifting social norms. The authors conclude by discussing policy options to address the challenges faced by families during the crisis, such as government subsidies for childcare and extensions of unemployment benefits.The paper examines the impact of the COVID-19 pandemic on gender equality, focusing on both the immediate economic downturn and its potential long-term effects. Unlike regular recessions, which disproportionately affect men's employment, the current crisis has a significant impact on sectors with high female employment shares, such as restaurants and hospitality. Additionally, the closure of schools and daycare centers has increased childcare needs, particularly affecting working mothers, with single mothers being disproportionately impacted. The authors argue that the crisis may have both negative and positive effects on gender equality. On the negative side, the crisis is likely to disproportionately harm women's employment opportunities and earnings, as job losses are more severe for women. On the positive side, the crisis may promote gender equality through two main channels: the adoption of flexible work arrangements and changes in social norms regarding childcare and household labor. The paper provides evidence that many businesses are adopting more flexible work arrangements, which may persist, and that many fathers are taking on primary childcare responsibilities, potentially shifting social norms. The authors conclude by discussing policy options to address the challenges faced by families during the crisis, such as government subsidies for childcare and extensions of unemployment benefits.