This week on the podcast, we take a look at caregiving. This is a big topic these days, but the conversation usually is focused around the consumer finance part of the story - things like long-term care insurance, and the rising cost of nursing home care.
On this program this week, we’re going to consider a different angle - the looming shortage of caregiver labor. This hasn’t received much media attention - yet. But its going to have a big impact on the United States in the years ahead.
There’s a growing body of evidence pointing to a dramatic shortage of care-giving labor. The aging of the nation is one part of the problem, since it accelerates demand.
But a big part of the labor crunch stems from bad policy, starting with the Trump administration’s crackdown on immigration, which is choking off the supply of caregiving labor. Another policy failure is that we have failed to ensure caregivers are paid and trained adequately—in other words, treating this work as an important, honorable occupation.
The looming labor shortage has implications for the cost of care. But it also means that more people will be pressed into care-giving service for family members during their working years. That will have a major impact on their careers and lifetime earnings . . . and on their retirement plans. This point is brought to life in this recent New York Times story about how caregiving responsibilities for parents are impacting millenials.
Joining me on the podcast this week is one of the nation’s top experts on the caregiving labor force. Robyn Stone is senior vice president of research at LeadingAge, a large professional and trade group representing the aging services field. She also co-directs a research center on long-term care at the University of Massachusetts in Boston. Dr. Stone holds a doctorate in public health from the University of California, Berkeley.
Earlier, Stone was executive director of the International Longevity Center, which was founded by the late Robert Butler, the renowned gerontologist and psychiatrist who did so much to revolutionize the field of aging. Dr. Butler was best known for coining the terms "ageism" and "longevity revolution.”
Robyn has written two excellent papers on this topic recently. One deals with workforce training issues, the other with approaches to developing a quality care-giving worforce.
On the podcast, Robyn and I talk about the looming shortages in the labor market for caregiving. We talked about the root causes, what it will mean for people who need these services - and some possible solutions.
Click on the player icon at the top of this page to hear our conversation.
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