The draft National Strategy for the Care and Support Economy was released on Sunday, and lays bare the circumstances of low-paid workers in these sectors.
Mr Albanese said every Australian should have access to high quality care and support.
"The Australian Government is committed setting a new direction for this sector through an accessible and sustainable care and support economy," he said.
"To do this, we need to hear from those directly impacted by it. I encourage people to have their say on the draft Strategy so we can ensure it reflects the needs of the community."
Government spending in these sectors is expected to almost double from $60 billion in 2021-22 to more than $110 billion by the 2026-27 financial year.
The draft strategy found there is "high turnover across the system because the jobs have low pay and recognition, limited career progression, high workloads and, at times, unsafe work conditions".
It says the forecasted "significantly increasing costs" across the care economy placed considerable strain on the federal government's budget, and intergenerational fairness.
Mr Albanese said the care workforce was integral to the economy, particularly as demand for aged care and early education services is on the rise.
Public consultation on the draft strategy is open.
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