In 2020, the AARP Public Policy Institute conducted the survey Caregiving in the U.S. to profile employed caregivers and shed light on the impact of managing both paid work and caring for an ill or aging adult.
This survey discovered that in 2019, 61% of family caregivers worked a paying job at some point during their caregiving experience. That 61% is equal to an estimated 29.2 million people and signifies an increase of more than 5 million employed family caregivers since 2015.
With the U.S. population aging and individuals retiring later, trends suggest that we are likely to see an increase in the number of family caregivers who will be attempting to juggle paid work and caregiving responsibilities. The stress and strain felt by these caregivers is significant. Nearly 38% considered their caregiving situation to be highly stressful, while 27% rated their experience as moderately stressful. One in five employed caregivers reported high or moderate financial strain due to caregiving. In an attempt to manage both the responsibilities of their employed work and their unpaid caregiving role, some individuals made changes to their work life. Research has found that the economic consequences of reducing paid working hours or retiring early can have long-term consequences on the caregiver’s financial security. The emotional strain also takes a toll; one in five shared that they find it difficult to care for their own health or consistently feel alone.
At Clearday, it is our mission to provide affordable, high-quality care options to aging Americans. Our transformative new care models help adults with Alzheimer’s and other cognitive deficit conditions to live at home longer while also offering their unpaid caregivers peace of mind that their loved one’s needs are being met. Find out more about how we help here.
By Clearday Research Team
This blog and related materials prepared by Clearday, Inc. may use publicly available information including market research, studies or reports by unaffiliated third parties that include market demographics and other relevant market or research information. Such information or a link to such information is available upon request. We do not warrant any such information and do not have information that causes us to believe that any such market research, studies or reports are not correct in all material respects.