This brief presents emerging evidence of the COVID-19 pandemic’s impact on women’s economic empowerment. Complementing a separate UN Women Policy Brief on COVID-19 and the care economy, it considers the immediate gendered economic impacts, including widening socio-economic divides and shifting national and international priorities for the allocation of resources, as well as the long-term implications for women’s employment and livelihoods. The brief makes recommendations to be considered by all stakeholders, from governments to international organizations, the private sector and civil society organizations, in order to guarantee the economic rights of women during the public health crisis and in plans for recovery and resilience. Drawing on the latest available research and data, the brief highlights examples of action already being taken.