Understanding the Unpaid Economy
A new study from Price Waterhouse Cooper (PwC) attempts to quantify the value of unpaid work in Australia. The report values Australia’s unpaid economy at $2.2 trillion. Childcare makes up the largest proportion of unpaid work at 24.6 percent. Women complete 76% of childcare and 72% of unpaid work. Women also undertake 67% of domestic work, 69% of care of adults and 57% of volunteering. Assigning a value to unpaid childcare – valued at more than $345bn in Australia – is an important step in encouraging governments and employers to factor it into their planning.