A Labor of Love Worth $58 Billion in Care

Albany, NY — Nearly four million New York family caregivers now provide 2.6 billion hours of care annually worth $58 billion of labor each year, according to a new AARP report.

New York ranks fourth in the nation for the number of caregivers (3.9 million), number of caregiving hours, and economic value provided by caregivers. Most of this work is unpaid; it also is the backbone of New York’s long-term care system that is essential to helping millions of older adults live independently at home.

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Caregiving has become more demanding and complex as chronic illnesses rise and more care shifts into homes. Nationally, family caregivers are spending more time providing care, averaging 27 hours each week. More than half, 57%, now provide high-intensity care meaning; they spend more hours helping with daily tasks like bathing and dressing as well as complex medical and nursing tasks like wound care and administering injections.

“Family caregivers are a major economic force that fill critical gaps in New York’s health care system—providing essential care at home, coordinating services, and supporting loved ones in nursing homes. Without them, many more New Yorkers would rely on expensive institutional care, driving significantly higher costs for taxpayers and public programs,” said Beth Finkel, AARP New York State Director. “Yet too many caregivers are stretched thin without the support they need. New York must do more in our pending state budget to ensure family caregivers have access to meaningful financial relief, emotional support, and community resources, because the care they provide is indispensable to our families, our health care system, and our state.”

AARP New York is advocating to implement Proposal 50 in New York’s Master Plan for Aging, which provides $173.5 million for essential services for older New Yorkers to be included in the upcoming state budget. The funding covers services to improve the lives of older New Yorkers and their family caregivers by providing home and community-based services, investments in sustainable nutrition supports, and increased funding for the long-term care ombudsman program that provides nursing home oversight.

National Findings:

• 59 million Americans are caregivers of adults, providing care for older parents, spouses, neighbors, and other loved ones, contributing 49.5 billion hours of care annually, work that would be valued at $1.01 trillion per year if paid in the marketplace, based on a value of $20.41 per hour.
• The 49.5 billion hours of care provided each year is the equivalent of nearly 24 million full-time workers, roughly 17% of the entire U.S. full-time workforce.
• The value of family caregiving exceeds total federal, state, and local Medicaid spending nationwide, and almost doubles all out-of-pocket health care spending.
• Across states, the value of caregiving ranges from $14.12 per hour in Louisiana to $27.05 per hour in Washington, reflecting regional differences in wages and the cost of care.