{"id":763742,"date":"2023-06-14T11:57:04","date_gmt":"2023-06-14T15:57:04","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/insure-com-2023-fathers-day-index-dads-role-worth-nearly-55000\/"},"modified":"2023-06-14T11:57:04","modified_gmt":"2023-06-14T15:57:04","slug":"insure-com-2023-fathers-day-index-dads-role-worth-nearly-55000","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/insure-com-2023-fathers-day-index-dads-role-worth-nearly-55000\/","title":{"rendered":"Insure.com 2023 Father\u2019s Day Index: Dad\u2019s Role Worth Nearly $55,000"},"content":{"rendered":"

<\/p>\n

Insure.com 2023 Father\u2019s Day Index: Dad\u2019s Role Worth Nearly $55,000<\/b><\/p>\n

While Dad\u2019s role pales in comparison to mom\u2019s workload at home, the \u201csalary\u201d for fathers still jumped nearly 5% over last year<\/i><\/p>\n

FOSTER CITY, Calif.–(BUSINESS WIRE<\/a>)–Insure.com<\/a>, a comprehensive source for insurance information, released its 13th annual Father\u2019s Day Index. The index, which tracks the wages fathers would earn for household jobs if they were paid for doing those tasks, shows that dad\u2019s annual \u201csalary\u201d climbed this year to $54,996 from $52,474, a 4.8% jump.<\/p>\n

\nInsure.com uses recent wage data from the Bureau of Labor Statistics to calculate the financial value of 17 jobs that fathers commonly perform.<\/p>\n

\nReview the full Father\u2019s Day Index 2023: Dad\u2019s salary jumps 5% to nearly $55,000<\/b><\/a><\/p>\n

\nThis year, fathers\u2019 wage increases are slightly ahead of U.S. workers\u2019 overall salary increases. In early June, the U.S. Bureau of Labor Statistics reported that average hourly earnings increased by 4.3% during the past 12 months.<\/p>\n

\nHowever, despite their recent salary increases, Dad\u2019s contribution to the family pales in comparison to Mom\u2019s. In the past year, if mothers were paid for all their jobs around the house, they would have received a salary of more than $133,000, according to an earlier <\/a>analysis<\/a> by Insure.com.<\/p>\n

\n\u201cLooking at the value mothers and fathers bring to any family is a reminder that the loss of either is both emotionally and financially devastating, which is why parents should consider purchasing life insurance,\u201d says John McCormick, editorial director for Insure.com.<\/p>\n

\nIn a widely cited 2021 report from LIMRA, a life-insurance industry research firm, 42% of American families would face financial hardship within six months if a wage earner unexpectedly died.<\/p>\n

\nFor many families, the sudden absence of a parent necessitates hiring outside experts for household repairs, lawn maintenance and other essential tasks. Using the Father\u2019s Day Index as a gauge, the cost could add up to nearly $55,000 \u2013 and maybe more.<\/p>\n

\n\u201cLife insurance can help alleviate the financial pressure many families encounter when a father dies,\u201d McCormick says.<\/p>\n

\nInsure.com recommends an annual insurance \u201ccheckup\u201d using its Life Insurance Advisor<\/a> tool. The tool helps consumers locate vulnerability gaps in life, auto, home or health insurance coverage and recommends adjustments based on current family situation and assets.<\/p>\n

Methodology<\/b><\/p>\n

\nFather\u2019s economic value is based on occupational wages from the Bureau of Labor Statistics and does not include a salary from work outside the home. It is calculated using a list of common household tasks that fathers often perform.<\/p>\n

About Insure.com<\/b><\/p>\n

\nInsure.com is owned and operated by QuinStreet, Inc. (Nasdaq: QNST<\/a>), a pioneer in delivering online marketplace solutions to match searchers with brands in digital media. QuinStreet is committed to providing consumers and businesses with the information and tools they need to research, find and select the products and brands that meet their needs. Insure.com is a member of the company\u2019s expert research and publishing division.<\/p>\n

\nFor more than 20 years, Insure.com has served as a comprehensive consumer resource for insurance information, offering expert advice, articles, news, and tools about car, home, health and life insurance. Consumers have access to free car insurance quotes and guidance on finding the right insurance policy, saving money and solving claims problems.<\/p>\n

\nTwitter: @InsureCom
\n<\/a>
Facebook: https:\/\/www.facebook.com\/Insure<\/a><\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20230613836246\/en\/<\/a><\/span><\/p>\n

\nCharlene Arsenault
\n
Public Relations Associate
\n
carsenault@quinstreet.com
\n<\/a>
+1 650-578-6845
\n
LinkedIn<\/a><\/p>\n

KEYWORDS:<\/b> United States North America California<\/p>\n

INDUSTRY KEYWORDS:<\/b> Family Professional Services Consumer Parenting Insurance Finance Men<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
Logo<\/b><\/font><\/td>\n<\/tr>\n
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Insure.com 2023 Father\u2019s Day Index: Dad\u2019s Role Worth Nearly $55,000 While Dad\u2019s role pales in comparison to mom\u2019s workload at home, the \u201csalary\u201d for fathers still jumped nearly 5% over last year FOSTER CITY, Calif.–(BUSINESS WIRE)–Insure.com, a comprehensive source for insurance information, released its 13th annual Father\u2019s Day Index. The index, which tracks the wages fathers would earn for household jobs if they were paid for doing those tasks, shows that dad\u2019s annual \u201csalary\u201d climbed this year to $54,996 from $52,474, a 4.8% jump. Insure.com uses recent wage data from the Bureau of Labor Statistics to calculate the financial value of 17 jobs that fathers commonly perform. Review the full Father\u2019s Day Index 2023: Dad\u2019s salary jumps 5% to nearly … <\/p>\n

Continue reading “Insure.com 2023 Father\u2019s Day Index: Dad\u2019s Role Worth Nearly $55,000”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-763742","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nInsure.com 2023 Father\u2019s Day Index: Dad\u2019s Role Worth Nearly $55,000 - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/insure-com-2023-fathers-day-index-dads-role-worth-nearly-55000\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Insure.com 2023 Father\u2019s Day Index: Dad\u2019s Role Worth Nearly $55,000 - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Insure.com 2023 Father\u2019s Day Index: Dad\u2019s Role Worth Nearly $55,000 While Dad\u2019s role pales in comparison to mom\u2019s workload at home, the \u201csalary\u201d for fathers still jumped nearly 5% over last year FOSTER CITY, Calif.–(BUSINESS WIRE)–Insure.com, a comprehensive source for insurance information, released its 13th annual Father\u2019s Day Index. The index, which tracks the wages fathers would earn for household jobs if they were paid for doing those tasks, shows that dad\u2019s annual \u201csalary\u201d climbed this year to $54,996 from $52,474, a 4.8% jump. Insure.com uses recent wage data from the Bureau of Labor Statistics to calculate the financial value of 17 jobs that fathers commonly perform. 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