IDEAS

The nursing shortage is the most visible example of the enormous labor shortages across care economy careers. But the problem is much bigger. Care workers–physicians, home health aides, early childhood care workers, physician assistants, and more–face critical challenges as a result of America’s immense care gap that may soon touch every corner of the American economy.

Researchers behind a new survey on Gen Z say employers and health care providers can learn from the habits of this group, which is joining the workforce at the highest rate. Whether it’s their prioritization of mental health or their holistic approach to health, employers should take note.

How much does caregiving—from childcare to caring for elders—contribute to the U.S. economy? According to a report from Melinda French Gates’ Pivotal Ventures and support from Springbank. It’s $648 billion.

Four Dynamic Areas of Growth, a first-of-its-kind report that puts the size of the care economy at $648 billion, making it $138 billion larger than the US pharmaceutical industry and larger than the US hotel, car manufacturing, and social networking industries combine.

Listen to our co-founder and partner, Elana Berkowitz, discuss opportunities to keep women in the workforce right now, how Springbank is disrupting the way we think about caregiving, and what’s being overlooked when it comes to women’s health and investment today.

But this isn’t just a mommy issue, it’s an economic one. A study revealed that by 2030, the U.S. could lose a staggering $290 billion in GDP annually.