MacroMonitor Market Trends is a newsletter from Consumer Financial Decisions (CFD) that highlights topical news and trends of interest to you and your colleagues. If you would like more information about the topic in the newsletter or would like to discuss other ways that we can assist you in your research or marketing efforts, please contact us.
Is the Number of Caregivers Households Declining?
Caregivers—households that have responsibility for one or more "infirm, aged, disabled, or handicapped adults"—face exceptional challenges when thinking about financial services. During the first decade of the twenty-first century, the number of households in this group has increased sharply, leveled off, and then trended slightly downward.
In the middle of the decade, the number of Caregivers households increased rapidly, resulting in a 54% increase in the eight-year period between 2000 and 2008. From 2008 to 2010, the number of Caregivers households declined from the decade high of 17.4 million to the end-of-decade low of 16.1 million. In consideration of the many economic factors working against families—higher food and fuel costs, slow wage growth, declining home values, tight credit—and an aging population, the case for an increase in the number of Caregivers households rather than a further long-term decline is easy to make.
Caregivers households represent a good target for specific financial products from some types of providers such as banks and insurance companies. We will be sure to follow this trend when the 2012–13 MacroMonitor data are available in the fall of 2012.
MacroMonitor sponsors may access a more in-depth Segment Summary—Caregivers—from their SBI/CFD client landing page. Sponsors may request Segment Summaries about other populations in which they have an interest—for example, Noncaregivers households, ethnic populations, Baby Boomers, and the Revolving Retired.
To learn more about Caregivers, please contact CFD.