Hidden cost of unpaid care: The economic price of locking carers out of work

Carers Trust published research on the economic impact of carers being locked out of work when they are not supported via social care or employability programmes. The findings of the Hidden Cost of Unpaid Care report showed:

• The total lost labour of unpaid carers is worth up to £47.7bn a year – equivalent to 1.7% of the UK’s entire GDP.
• If the 524,000 carers who, with the right support and capacity, could move into full[1]time work, their household income could rise by up to £10.1bn, with additional benefits of up to £2.8bn in reduced welfare payments and £4bn in increased tax contributions.
• A further £7.2bn would then be unlocked via additional spending power.
• Beyond the financial impact, improved support would also help carers regain skills, confidence, and long-term career opportunities.

To support carers who want to and are able to work back into paid employment, Carers Trust want to see increased use of specialist employment support for carers, investment in social care, and changes to the social security system.