By Tripp Umbach
Abstract: National policymakers increasingly recognize the care economy as an essential economic driver, contributing $648 billion annually to the U.S. economy and supporting 3.6 million jobs. The care economy is also critical in driving economic development and prosperity in Southern Nevada. Yet, as this Tripp Umbach analysis finds, Southern Nevada’s care economy dramatically underperforms compared to national benchmarks and peer regions. High caregiving costs and limited access to care for children, seniors, and individuals with disabilities in Southern Nevada strain families, businesses, and public resources. This burden reduces workforce participation, productivity, and economic growth. Low pay and high turnover among care workers further escalate costs for employers, while unaffordable child or elder care forces many people to leave the workforce for unpaid caregiving roles, hindering regional economic resilience and sustainability. Addressing these issues in the care economy is vital to unlocking Southern Nevada’s full economic and social potential.