The Future of the Care Economy
The 'Future of the Care Economy' report from the World Economic Forum highlights significant inequities in the global care system, which relies heavily on unpaid care work predominantly performed by women. It states that women dedicate approximately three times as many hours as men to these responsibilities and that this imbalance is particularly acute for women in disadvantaged groups, including migrant female workers. This unequal burden severely limits women's participation in the paid workforce. Data clearly shows the impact of this: two million women left the workforce during the pandemic, and in the UK, one in five mothers providing childcare could not work despite wanting to. The report also reveals that the rate at which women have been returning to work has slowed significantly, reaching its second-lowest point since the 2006 Global Gender Gap Report. This overreliance on unpaid care work performed by women and other underrepresented groups devalues care as a public good and prevents the development of comprehensive regulatory solutions. This leaves economies unprepared to manage major transformations and perpetuates a system in which those who provide essential care are denied opportunities for training and employment.
