If a mom’s unpaid work at home includes being a CEO, a psychologist and an executive chef, should her hypothetical paycheck be in the GDP?
This week’s economic news summary includes Apple’s corporate taxes, Santa’s GDP connection, seasonal spending, the gender gap and the brain and shopping.
Although BLS data indicates what Santa’s salary could be, because it is unpaid work and comes from the North Pole, it is excluded from the GDP.
If they tried to include the work that moms and dads do at home, national income accounting statisticians would have a tough time quantifying unpaid work.
Who makes dinner in your home? Walks the dog? Goes to the supermarket? A study from the Organization for Economic Cooperation and Development (OECD) compared unpaid work in 29 countries. Predictably, they concluded that women do a lot more than…