Economy & Business
Child care is an integral pillar to supporting a thriving economy, with 27 million Americans relying on it to work. The national shortage of affordable child care programs is doing significant harm to family finances, businesses’ bottom lines, and the U.S. economy broadly.
Here are five things to know about child care and our economy.
- The United States economy loses an estimated $122 billion a year due to child care challenges.
- On average, businesses lose $1,640 a year for each working parent due to lost revenue and hiring costs because of insufficient child care, totaling $23 billion annually.
- 77% of small business leaders say access to high-quality, affordable child care is essential or important to strengthening the economy and helping workers.
- Investments in high-quality child care and early learning programs can generate up to $7.30 per every dollar invested.
- The availability of early childhood education programs attracts homebuyers and increases property values by $13 for every dollar invested in programs.
Learn more:
Posts
The First Five Things To Know About: The Federal Tax Code and Child Care
Child care is not a luxury for American families – it’s a necessity. Yet the high costs associated with quality child care are rapidly outpacing most other expenses, including the …
White House Convening on Child Care
On September 27, First Five Years Fund (FFYF) attended the White House States Convening on Child Care, joining leaders from 34 states across the country as well as key stakeholders …
New Evidence Suggests Expanding Access to Pre-K is Good for the Economy
The White House Counsel of Economic Advisers recently released an issue brief presenting new findings that investing in universal pre-K has broad economic benefits. Child Care is Infrastructure: Evidence from …
The First Five Things to Know About: The Kaine-Britt Bipartisan Child Care Plan
Millions of working families with young children rely on quality child care, but the eye-watering cost and limited supply means many can’t find or afford it. Without it, many parents …
Top Themes from the National Child Care Innovation Summit
“I’m here because child care is not only a social issue or a women’s issue. It is also an economic issue. In fact, I’d argue it’s one of the most …
The First Five Questions For: Caitlin Codella and Liat Krawczyk
In this month’s FFYF’s First Five Questions series – which brings together interesting leaders, experts, and voices together to talk about child care challenges and solutions – Executive Director Sarah …
How we’re celebrating Mother’s Day and Provider Appreciation Day
This weekend is both Mother’s Day AND Provider Appreciation Day so now is the time to recognize the important work of both moms and the early educators and providers they …
U.S. Treasury Convening Highlights Financial Challenges and Opportunities for Child Care Providers
On Tuesday, April 30th the White House hosted a convening with the U.S. Department of the Treasury to discuss potential solutions to alleviate the operational and financial challenges of running …
Child Care This National Small Business Week
This Small Business Week, there’s one surprising issue that’s keeping small business owners from thriving: child care challenges. A number of recent polls from employers and employees have found that …
FFYF Statement on White House’s “Making Care Work”
On Wednesday, April 17, the White House brought together governors, advocates, and business leaders to underscore the important role child care plays not only in supporting working families but in …
New Poll: Small Business Owners Need Federal Action on Child Care
(Washington, DC) – A new report from Small Business Majority – a national small business organization with a network of 85,000 small businesses – has found that more than two-thirds …
FFYF Statement on POTUS Care Economy Event
Today, President Biden joined care workers to discuss his administration’s focus on expanding access to affordable, high-quality child care and other care priorities. FFYF’s Executive Director Sarah Rittling released the …
