I came across this chart in this months 'Todays Parent' magazine. This is a Canadian parenting magazine. I am not sure where they go their stats from, they did not cite a source. I think they are sifting through the results of a survey, but they never say specifically.
I have heard similar numbers tossed around, and had one financial advisor suggest homemakers have a life insurance policy that will cover this amount of unpaid income. His reason was, "This is what it will cost to hire people to replace you, so make sure the money will be there." Good advice, I think.
I found the 'fair market value' estimates very close to what I would have estimated. Some of the time estimates seemed high to me.
Average time per week employed and at-home moms with two children spend on unpaid work, along with estimated rates if work were contracted out at a fair market value: (hours will be presented as employed/at-home followed by fair market rate per hour.)
Housekeeping 7.8/17.2 $10.38/hr (This estimate seems about right to me)
Daycare teacher 6.3/16.5 $14.19/hr (Keeping the kids entertained, informal teaching, activities)
Cook 6.4/11.5 $14.40/hr (sounds about right to me)
Computer Operator 5.4/8.0 $16.57/hr (Does this include blogging and Facebook? I'm not sure I agree on this estimate, or think it should be included in the tally. I think I'd substitute this with 'Concierge' and include things like picking up parcels from the post office, and buying gifts and cards for birthdays, holidays, and thank-you's. Also the multitude of errands we run would fit here)
Laundry Machine Operator 5.1/6.1 $10.65/hr (That's it!?! I would have estimated closer to 8 hrs for each)
Janitor 3.7/6.4 $10.92/hr (How is this different from housekeeping? The estimate seems high)
Facilities Manager 4.4/6.8 $37.23/hr (I think this would be arranging for the plumber, fixing the dripping faucet, doing outside chores etc. This seems like a high estimate to me)
CEO 5.9/6.4 $73.06/hr (managing the finances, bills, filing taxes, planning for the future etc. Sounds a little high. I'd give it closer to 4.0 hrs a week)
Van Driver 4.6/6.6 $17.12/hr (I wish that was all the time I spent driving! Double that estimate for me)
Psychologist 4.9/6.9 $39.24/hr (I think managing interpersonal relationships fits in here. Fighting kids, rebellion, managing husbands needs etc)
Estimated annual market value of moms' unpaid work in US funds: Employed Moms = $68,405. At-Home Moms = $116,805!
A few other interesting stats:
Average age of brides at first marriage: in 1971 = 23 (grooms 25) in 2007 = 28.2 (grooms 30.2)
Average age of Moms at birth of first child: In 1986 = 27. In 2006 = 29.3
Average number of kids per woman: In 1981 = 1.4. In 2006 = 1.1
Weekly food costs for a family of 4: In 1988 = $79. in 2002 = $128
Babysitting rates: in the 1980's = $2 - 5/hr. In 2005 = $7 - 10/hr.
3 comments:
Very interesting! I had never thought of this before. If only...
phew! Can I have a bonus?! :D I wouldn't mind that in my back pocket!
Very interesting!! That's a lot of hours per day! :D
You are worth every estimated penny!
Hugs to the home specialists!!
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