We wanted to give some respect to family caregivers out there today.
Family caregiving situations are not recognized as often as other stressful situations such as a newborn baby or a sick spouse, but they are just as tricky to handle.
Companies are starting to realize this as more and more HR departments are providing support for workers that become family caregivers.
With this in mind, we thought to put out a few statistics we found incredible would be worthwhile to recognize how much time and money is allocated to providing care to loved ones.
- There are 34.5 million (and probably more) unpaid caregivers caring for adults over the age of 50. This is nearly 10% of our population is providing unpaid family care
- On average a family caregiver is spending twenty-four or more hours per week providing care.
- In addition to the last fact, 1/4 of those family caregivers are providing more than forty hours per week of care. Basically a second full-time job (assuming they are working)
- On average a family caregiver spends $7,000 in out of pockets costs per year on providing this care. For out of town caregivers, the cost is higher, $12,000. So not only are individuals cutting back their hours (and pay) at work to provide care, they then are incurring out of pockets costs for providing help to their parents.
- In total, family caregivers spent $470 billion in unpaid care. This is a massive number. Many family caregivers end up using their vacation time or reduce their work hours so they can provide care.