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
New Report from Wells Fargo: America’s Economy Relies on Child Care
Employers are currently struggling to hire workers while workers – particularly women – are struggling to rejoin the workforce. Why? In large part because working mothers are dependent on child …
Jobs Numbers Show Federal Funding Is Essential to Child Care Sector’s Success
Over recent months, federal pandemic relief dollars have begun reaching child care providers in a meaningful way, and as a result, child care employment numbers have seen their first significant rebound …
House Select Subcommittee on COVID Crisis Holds Hearing on the Impact of COVID on Child Care
This week, the House Select Subcommittee on the Coronavirus Crisis convened a congressional hearing on “COVID Child Care Challenges: Supporting Families and Caregivers.” The hearing included testimony from child care …
At White House, Sec. Becerra Talks Importance of Child Care in BBB, Hosts Parents and Children
On Tuesday, HHS Secretary Xavier Becerra hosted parents and their children at the White House to discuss the challenges of finding quality, affordable child care. In his remarks, Sec. Becerra reinforced the …
The Child Care Crisis: Why the Status Quo is Failing Families, Early Educators, and our Economy
Now is the time to support children and families by ensuring affordable, quality early care and education options. Finding and affording quality child care and early learning options shouldn’t be …
Governors Highlight Child Care As Key To Helping States Recover And Grow
For years, Democratic and Republican governors alike have prioritized early learning and care as a smart investment for their states. It’s no surprise, then, that as America faces an ever-worsening child care …
First Lady Jill Biden Highlights Importance of Child Care & Pre-K for Families, Economy
Today, Dr. Jill Biden visited a child development center at the University of Minnesota where she delivered remarks about the success of federal pandemic relief funding in stabilizing America’s child …
Child Care Employment 12.4% Below Pre-Pandemic Levels
Despite January’s strong jobs growth, child care employment remains 12.4% below pre-pandemic levels. Unlike other industries, the child care sector was experiencing difficulties with hiring and retaining workers long before …
High-Quality Early Learning & Care: Understanding the Proven Benefits & Need for Investment
Economic development starts with early childhood development—and the best investments ensure all children who need it have access to high-quality early learning and care opportunities. Evidence shows that increased access …
1 in 3 Child Care Workers is Experiencing Food Insecurity
With many of our nation’s child care providers trying to survive on poverty-level salaries, a new analysis has found that 31.2% of a million child care workers – 1 out of every …
Examining the Significant Return on Investment from High-Quality Early Learning & Care
The Senate is currently considering the Build Back Better Act, which includes historic federal investments that would create monumental impacts for young children and their families by expanding high-quality, affordable …
