Achieving greater workforce diversity, inclusion and pay parity by solutioning for the greatest caregiver gap of our time
"Economists say the virtual absence of support for eldercare is a prime suspect in explaining why the share of women taking part in the labor force stalled in the late 1990s after rising relentlessly for 50 years."
Why Aren't More Women Working?
They're Caring for Parents
The New York Times, 2019
The world is facing a caregiver shortage.
In the U.S. today, there are 7 caregivers for each person 80+. By 2030 that number falls to 4. By 2050, there will be only 3 caregivers as Gen X turns 80. This gap puts a significant strain on family caregivers and disproportionately affects women, especially women of color.
An estimated 40 million Americans today provide care for elderly persons, many of whom have to reduce hours, take unpaid leave or quit their jobs to accommodate care needs. This results in lost wages, benefits and wealth accumulation over time. Career advancement also suffers.
Employers, benefits providers and policy makers must work together to ensure a viable path forward to support caregivers -- financially, physically and emotionally. Absent a plan to address the care needs of our rapidly aging population, diversity and inclusion efforts will falter.
Join The 2050 Project to learn more.