Oxfam released its report annual global inequality report, this year entitled ‘Time to Care’, which was published ahead of the World Economic Forum Annual Meeting in Davos and can be downloaded here.
The report highlights the way in which our upside-down economic system deepens inequality and perpetuates poverty by chronically under-valuing care work. In 2019 world’s billionaires – only 2,153 people – had more wealth than 4.6 billion people. Worldwide, women and girls are putting in 12.5 billion hours of unpaid care work daily – a contribution of at least $10.8 trillion annually. Women also make up two-thirds of paid care jobs such as nursery workers that are often poorly paid with scant benefits.
Oxfam’s report highlights how unpaid and underpaid care work is radically under-valued and taken for granted by governments and business. It is often treated as non-work, with spending on care viewed as a cost rather than an investment, leading to care being rendered invisible in measures of economic progress and policy agendas
Our analysis shows that people in Wales spend the most time providing unpaid care. On average, people in Wales spend 42 hours a year providing unpaid care, compared with an average of 31 hours a year across Britain. Based on current rates of pay in equivalent sectors we find the wage value of unpaid household and caring work in Wales to be: £21.6 billion.
As a key stakeholder in the care sector, we wondered if you would be willing to promote the reports findings and recommendations via your social media channels? We are simply asking partners to tweet a link to the report with a statement of their choice around the importance of valuing care and its enormous contributions to our economy in a similar way to Carers Scotland https://twitter.com/CarersScotland/status/1219318017168945153 .
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