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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