AARP report: Family caregivers’ economic value reaches $1 trillion

The latest caregiver report has been released by the AARP Public Policy Institute. Titled “Valuing the Invaluable 2026” the report, researchers found that the economic value of family caregiving in 2024 was worth a whopping $1 trillion.

In comments on the report, AARP CEO Dr. Myechia Minter-Jordan said, “When you look at caregiving at this scale, it becomes clear that this is not just a personal responsibility; it is a foundational part of our economy and our care system, and it is time we start recognizing it that way.”

Here are other main takeaways:

• The $1.01 trillion amount breaks down to 49.5 billion hours devoted to family caregiving, equaling a workforce of 23.8 million full-time workers.
• An estimated 59 million family caregivers helped an adult family member, neighbor, or friend with daily activities during the year, with 63 percent providing monthly care.
• The economic value of family caregiving exceeded the total amount of federal, state, and local Medicaid spending in 2024 ($932 billion).
• The cost and value of family caregiving has grown rapidly since the AARP’s first caregiving report in 2006, where the economic value of caregiving was found to be $350 billion.
• Family caregivers now average 27 hours of care per week. This is on top of a part- or full-time job, plus for sandwich caregivers, caring for children and elder relatives at the same time.
• More than half (55 percent) of family caregivers perform tasks typically handled by health care professionals, such as giving injections or managing a catheter. As a caregiver for my mother, I was required to care for her colostomy and after much trial and error, learned to manage her colostomy bag quite well. As I wrote in The Reluctant Caregiver, this task was well outside of my skillset and comfort zone, but as the sole family caregiver, I had no choice but to step up and take charge.

In conclusion, AARP noted: “This unpaid care generates significant public benefit, including savings for taxpayers, yet it often does so at considerable cost to caregivers’ own health, well‑being, and long‑term economic security.”

Access the full report: Valuing the Invaluable 2026: Family Caregivers’ Contribution Reaches $1 Trillion