The "care economic system" is the spine of the actual economic system — but few perceive it - thqaftqlm

The “care economic system” is the spine of the actual economic system — but few perceive it

Illustration: Annelise Capossela/Axios

The “care economic system” is the spine of the entire economic system — but the U.S. does not have centralized, easy-to-understand information on it. A challenge launched by a former Census Bureau economist this week goals to vary that.

Why it issues: With out strong information, policymakers and media wind up leaning on stereotypes to grasp the economic system — and people stereotypes are sometimes flawed.

  • “You possibly can’t repair what you do not measure,” as people like Sheryl Sandberg wish to say.

Driving the information: Misty Heggeness, a professor on the College of Kansas, simply launched “The Care Board.”

  • The challenge will measure all of the financial exercise surrounding the trouble to take care of different people — together with “establishments like day care, preschools, in-home care, nursing properties, janitorial work, nannies, home tasks and extra,” she mentioned in a press launch.

The issue: Trying again, incomplete information meant that the story informed about ladies within the pandemic wasn’t fairly proper, Heggeness informed Axios.

  • To wit: There is a well-liked notion that girls with school-aged youngsters dropped out of the workforce throughout the pandemic due to youngster care points.
  • It was tough to see if this was really true. Official labor power participation numbers do not observe parental standing — you’ll be able to’t rapidly search for the Bureau of Labor Statistics information on the employment of moms, as you’ll be able to for different cohorts.
  • So, Heggeness, who was a principal economist on the Census Bureau throughout COVID, used her spare time to piece collectively information from completely different sources — and he or she discovered a distinct story.

By the numbers: Girls with school-aged youngsters (age 5-17) had increased charges of workforce participation than ladies of the identical age with no children at dwelling, in keeping with her evaluation of Census and BLS information.

  • And, although a few of these ladies did go away the workforce, they got here again quicker than different teams. (See the chart beneath.)