This chapter evaluates gender inequality in employment risks during the first and the second wave of the COVID-19 pandemic in Germany. We use individual-level panel data collected weekly between 20th March and 9th July 2020, and again in September 2020 and January 2021, to examine the risks of short-time work, job loss, and unpaid furlough, as well as having to work on-site by means of growth curve modelling. The results reveal no particularly high exposure of women to pandemic-related labor market risks. Access to crisis measures, which serve as buffer against risks of income loss and job loss, does not differ between genders during the observed period. Furthermore, we did not find an increased likelihood of job loss and unpaid furlough among women, and women did not show a significantly higher probability of working on-site during the early phase of the pandemic than men. Regarding the risk of unemployment in the first and second wave of the pandemic, our results rather suggest that individual characteristics such as low income and education are important drivers. This also applies to the likelihood of short-time work during the second wave of the pandemic.