Invisible Economy: Valuing Unpaid Labor
New research highlights the economic value of unpaid household work and care, amounting to AUD 688 billion, primarily contributed by women. This essential, yet unrecognized, labor equals one-third of Australia's GDP. The study calls for its inclusion in economic metrics to address gender biases and value women's contributions.
- Country:
- Australia
An often-overlooked segment of the Australian economy—unpaid household work and care—has been newly quantified at an impressive AUD 688 billion. This figure represents nearly one-third of the national GDP and is predominantly provided by women, the study reveals.
Despite its significant contribution, this unpaid labor fails to appear in official economic statistics due to the global System of National Accounts limiting 'production' and economy size measurements to price-tagged activities. With this research, a call emerges to reevaluate how economies count contributions.
The findings suggest that recognizing unpaid work could have tangible effects on gender-related pay gaps and economic policies, as female-concentrated sectors remain undervalued. With the revival of the Time Use Survey, Australia might soon address these longstanding discrepancies.
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