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The Cost of Unpaid Care

As people age, the need for care rises. The population of older Americans is surging.  Accordingly, an estimated forty million people in America supplied unpaid care in some form or fashion in 2014, the last year for which data are available. As indicated by writer Christian Weller in Forbes, unpaid care added an estimated $470 billion in economic value in 2013. While the provision of care is to be celebrated, there are some negative consequences. Unpaid care worsens an already large gender gap since women are more likely to be caregivers and therefore to save less due to less availability in the job market.

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Anirban Basu, Chariman Chief Executive Officer of Sage Policy Group (SPG), is one of the Mid-Atlantic region's leading economic consultants. Prior to founding SPG he was Chairman and CEO of Optimal Solutions Group, a company he co-founded and which continues to operate. Anirban has also served as Director of Applied Economics and Senior Economist for RESI, where he used his extensive knowledge of the Mid-Atlantic region to support numerous clients in their strategic decision-making processes. Clients have included the Maryland Department of Transportation, St. Paul Companies, Baltimore Symphony Orchestra Players Committee and the Martin O'Malley mayoral campaign.