The caregiving crisis is a workforce crisis

The U.S. has complex systems in place to support nearly every major financial milestone in life, from student loans for education and mortgages for homeownership to tax advantages for retirement. So why is caregiving for our loved ones—something that nearly 1 in 4 American workers is doing unpaid—almost completely unsupported? The cost of care today is shockingly high, with the price of home care hitting a record $34 per hour and assisted living exceeding $5,400 a month. Childcare costs, meanwhile, have climbed roughly 30% since 2020. Many households are forced to choose between absorbing these costs or taking on the task of caregiving themselves. In either case, employers also pay a price. Caregiving-driven turnover, absenteeism, and disengagement in the workplace already cost U.S. businesses tens of billions a year. Despite this, care-related benefits still face an uphill battle. Recently, big employers have cut back on worker benefits including parental leave, a retraction that demonstrates a decided lack of both imagination and foresight. With employee engagement at a near all time low, actions like this further underscore the disconnect between company decisions and the well-being of their workforce. Additionally widespread financial vulnerability, with 67% of U.S. workers having reported living paycheck to paycheck in 2025 and nearly 70% are struggling financially, employers and policymakers should be investing in solutions that support workers and their families and build trust—not pulling the rug out from under them. Rising Demand and a Shrinking Workforce As America’s population ages, demand for care is accelerating—but the workforce needed to deliver that care isn’t keeping pace. Immigrants make up more than a quarter of long-term care workers, yet policy shifts have constrained this pipeline, exacerbating labor shortages. The result is a labor shortage that pushes prices even higher for families already at their breaking point. Childcare faces similar con