economic impact of caregiving

Caregiving can have significant economic effects, both for families and society. Many caregivers reduce work hours or leave jobs, leading to lost income and decreased productivity. This can increase financial stress for families and reduce overall economic growth. Additionally, healthcare costs may rise as caregivers manage medical needs at home instead of professional care, and employers may face higher absenteeism and turnover. On a broader scale, unpaid caregiving, often provided by family members, represents a substantial economic contribution but is not always recognized in economic measurements, underscoring the importance of policies that support caregivers and mitigate these impacts.