Value of family caregiving surpasses $1 trillion annually, new AARP report finds

AARP released a report finding that family caregiving in the U.S. generates more than $1 trillion in annual economic value, a figure that underscores the massive, largely unpaid labor provided by relatives caring for aging parents, disabled family members, and others. The estimate reflects the cost that would be required if the U.S. health and social care systems had to replace the work currently done by informal caregivers—a workforce that far exceeds the nation's paid care sector. The finding highlights a persistent gap between the economic contribution of family caregivers and the public support and recognition they receive. AARP CEO Dr. Myechia Minter-Jordan discussed the report's implications during an appearance on CBS News, emphasizing the need for policy attention to this demographic and economic reality.