Dad’s worth on Father’s Day 2021
Father's Day vs. Mother's Day...
...Dad usually gets the short end of the stick.
According to the National Retail Foundation, Americans were expected to shell out a record $20.1 billion dollars for Dad today.
That is the highest total in the survey's 18 year history...and up from 17 billion last year, in the midst of COVID-19, and 15.96 billion in 2019, pre-COVID.
In comparison, Christmas holiday shopping racks up around $580 billion, Valentine’s Day comes in at $18 billion on average, over the last few years.
Mom vs. Dad?
With 83% of America celebrating her day this year, Mother’s Day spending rose to $28.9 billion, that's an average of $220.48.
NRF's 2021 Father's Day Spending Survey says 75% of Americans had plans to celebrate Father's Day, today...
The survey (conducted in early May) indicates that the average person will have spent $174.10 on neckties, electronics and other "specialty gifts" for Dad...the biggest share going to personal care (cologne, aftershave and razors), home and garden tools, and appliances.
Pre-COVID, the biggest share would go to "outings," like a concert, ballgame or dinner.
Survey takers are discovering that after spending on moms and grads, consumers are being more generous in showing their appreciation for Dad this year.
$174.10 per Dad...that's up from $148.58 last year.
So, then, you might ask: What is Dad worth?
Insure.com, a consumer insurance information site, puts out an annual "Father's Day Index" calculating the monetary (dollar) value of the work the typical father does around the house. The index uses Labor Department wage statistics for jobs that could equal typical "dad" chores. For example, home repairs are calculated using wage data for maintenance and repair workers. Removing spiders from the house and squishing bugs correlates to pest control, driving kids to school and extra-curricular activities equal chauffeurs, etc.
Let's just say, with all the virtual school time, and homework help due to COVID-19, Dad's "value" skyrocketed since last Father's Day.
Lets look at helping with homework "value" for example: Dad's help correlates with teacher/instructor pay at $32.85 per hour, according to Bureau Of Labor statistics. At 10 hours of help per week, over 40 weeks, the total for Dad is $13,140.00. Up 10% from last year.
If you count Dad's additional supervision as the equivalent of a "Middle School Teacher" (a new category in COVID times), at $31.48 per hour, for 15 hours a week, over 36 weeks, you can add $16,983.00.
Besides homework/school help, another big "up" category for Dad is "plumber," up 10%, and "general handyman" work is up 2%.
Driving the family around is calculated to be worth $7,090.00 (Down 3%)...Barbecuing (cooking) adds $1,997.00 (Down 4%)...Coaching a child's team is worth $946.00 (Down 17% from last year).
The index only counts the value of "common household tasks," and does not include a salary for work done outside the home. Add it all up...and...
This year, the Father’s Day Index puts Dad’s total chore value at $51,293.00..by far, its highest value since the survey began in 2011.
Dad's value increased 36% overall in the past year.
Last year's (2020) Dad value was $37,835.00.
Survey compilers say Dad stepped up, during COVID-19.
However, Dad's value is still much less than Mom's household "worth."
With COVID-19 times, Mom's value jumped 23% over last year...hitting triple digits for the first time: $116,022.00 (vs. $93,920.00 last year).
Still, I'm thinking that these figures should be taken with a LARGE grain of salt....
To me, Dad is PRICELESS.
Happy Father's Day to MY dad....and to all dads.