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
Top Economist Calls on Congress to Prioritize Relief Funding for Child Care Industry
Underscoring the dire need for significant federal relief to stabilize the child care industry, the nation’s former top economist called on Congress to prioritize the urgent needs of child care …
Small Business Administration (SBA) Loans Immediately Available to Child Care Providers
The following is information provided by First Five Years Fund and the U.S. Chamber of Commerce Foundation for child care small businesses interested in applying for a loan through Paycheck …
Brief Identifies Key Considerations for More Equitable Access to Child Care During COVID-19 Crisis
This week, Child Trends released a new resource for state and local policy makers as they look to support child care providers and families during the pandemic. The brief highlights …
ACF Publishes Revised COVID-19 FAQ Resource
Last week, the Office of Child Care (OCC) within the Administration for Children and Families (ACF) published an update to their COVID-19 FAQs resource to address questions related to subsidized …
Members of Congress Urge Negotiators to Prioritize Child Care in Recovery Package
In a new letter lead by Representative Haley Stevens (D-MI), 26 members of the House of Representatives are calling for child care to be prioritized in the final recovery package. …
America’s Child Care Crisis Sees Major Uptick in Media Coverage
The COVID-19 pandemic has exacerbated financial challenges that child care providers have faced for years, pushing the industry to the brink of collapse. Anxious parents and struggling child care providers …
Advocates Call on White House to Prioritize Child Care in Negotiations for COVID-19 Recovery Package
A group of national child care advocacy organizations and provider groups have written to the White House urging those at the negotiating table to prioritize financial relief for the child …
Senate Recovery Package Includes $15 Billion in Child Care Relief Funding; Significantly More Will Be Required to Prevent the Industry from Collapse
WASHINGTON – Today, Senate Majority Leader Mitch McConnell released the details of Safely Back to School and Back to Work Act, which includes $15 billion in emergency funding for the …
Child Care Receives Major Attention this Week
This week we saw major action in Congress to address the growing child care crisis that is devastating communities across the country. Recently released data paints a bleak picture of …
NEW: 41 Republican House Members Call for Additional Relief for Child Care Providers
WASHINGTON – Today, 41 Republican lawmakers in the House sent a letter to Congressional leaders calling for dedicated federal relief for child care providers and businesses to stabilize an industry …
Without Support, Child Care Providers Expect to Permanently Close
America needs child care relief to keep the industry afloat during the nation’s economic recovery from the COVID-19 pandemic. The disastrous economic crisis has hit the child care industry especially …
The Cost of Providing High-Quality Early Learning and Care — Worth Every Penny
As understanding about the critical importance of early learning and development has grown, so too have expectations about the quality of care children receive. The overwhelming evidence shows that high-quality …
