The High Value of Family Caregivers
AgeWise Colorado Provider AARP has released a report indicating that unpaid work provided by family caregivers nationwide in 2021 totaled up to a value of about $600 billion. The total marks a $130 billion increase over the 2019 report. The figure is based on roughly 38 million caregivers in the U.S. providing an average of 18 hours of care per week at an average hourly rate of $16.59. AARP noted this economic impact exceeds all out-of-pocket spending on health care in the U.S. The report comes as the share of available family caregivers is predicted to shrink relative to the growing numbers of older adults needing long-term help. Also, caregivers are getting squeezed by the fact that 60% of them are still employed while also providing care, and 30% of them are giving care to two generations at once—their parents and their own children. For more on family caregiving, key in ‘family caregivers’ in the search field on our AgeWise homepage.
Did you find our information helpful?
We are always adding new information and resources and are open to suggestions for improvement. We can do even more with your contributions.