care economy

This is the sector of the economy of the country that comprises people, both paid and unpaid, who take care of children, the elderly, the sick and the disabled.  The reason why it has been given a label is because it is the most rapidly expanding sector of the economy in many countries. This is largely because of our ageing population and the increased number of women needing childcare so that they can go to work.  The people employed in the care economy now need better training and credentials to be able to work, and they are demanding better pay.  As Ross Gittins says ‘we can’t go on exploiting the motherly instincts of women by paying those in caring jobs less than those in uncaring jobs (so to speak)’. The current shortage of workers is likely to continue as the sector expands so there will be more jobs in the care economy for the foreseeable future.