In 2015 Carers Australia commissioned a report with Deloitte Economics on the Economic Value of Unpaid Care.
The report found:
Unpaid carers (called 'informal carers' in the report) provided an estimated 1.9 billion hours of care in 2015. This is equivalent to each carer providing 673 hours per year or 13 hours per week.
If all hours of informal care provided in 2015 were replaced with services purchased from formal care providers, the replacement value of informal care would have been $60.3 billion (equivalent to 3.8% of gross domestic product and 60% of the health and social work industry).
The report recommenced several policy changes, including the need for greater flexibility in working arrangements to accommodate workers’ caring responsibilities and employment preferences.
To view this report, click here.
You can learn more about Carers Australia's 'Work & Care' project here.