• The care economy is usually not considered a productive activity, and it’s chiefly carried out by women.
• But data collected by the Colombian government demonstrates that the care economy could have a significant impact on a country’s GDP.
• A reform in the payment norms behind the care economy would benefit women that can’t take other jobs due to time constraints.

During the last two years, experts have gauged the impact that the COVID-19 pandemic had on various productive industries of the global economy. But the care economy, a sector profoundly affected by lockdowns, did not receive enough attention from experts.

The care economy comprehends those activities that people perform daily, often in our homes, including chores or taking care of other persons, such as infants or the elderly. These chores, such as cleaning up a house or shopping for groceries, are typically not paid, and even less are considered productive. But, as a global society, we can still attain changes to this outdated perception. To illustrate the case and to suggest changes, we’ll use data from the care economy in Colombia.

The National Statistical System, known locally as the DANE, is commissioned to collect statistics and information in Colombia. Because of a law passed in 2010, the first of its kind in the Americas, the DANE calculates the care economy for its potential revenue.

This law allowed the care economy to insert itself into the national accounting system and meant the DANE measured it by...

Read Full Story: https://www.weforum.org/agenda/2022/05/care-economy-gender-gap-davos22/