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
FFYF’S 2023 State Fact Sheets
Our new analysis of all 50 states and Washington, D.C. shows that child care and early learning programs have tremendous impacts on young children, their families, and the economy at …
GAO Report: Family Child Care Networks
Over 7 million children from birth through age 5 are cared for in a family child care (FCC) or home-based setting. Families may choose FCC for a number of reasons: …
New 50 State Analysis Shows Impact of Federal Child Care Program
New analysis of all 50 states and the District of Columbia from First Five Years Fund (FFYF) shows that while the nation’s main federal child care program – the Child …
Video: What is CCDBG?
Child care is a necessity for low-income and working parents, yet the cost of quality care often places it out of reach for families. Recognizing that quality child care can …
How CCDBG Benefits Families in Your State
The Child Care & Development Block Grant (CCDBG) is the primary federal grant program that provides child care assistance to low-income working families with children under age 13. The majority …
Child Care Provider Reimbursement Rates Explained
Providing quality, affordable, and accessible child care is expensive. Well-qualified early childhood educators are essential to providing high-quality early learning and care opportunities for children from birth through age five. …
NIEER Report Shows Importance of Including Family Child Care Programs in Publicly-Funded Pre-K
The National Institute for Early Education Research (NIEER) recently released “Including Family Child Care (FCC) Programs in Publicly-Funded Pre-K: Conditions for Success”, a report demonstrating the benefits of including family …
Child Care in White House Economic Report of the President
Last week, the White House released the “Economic Report of the President”, which prominently demonstrates the vital role that access to high-quality, affordable child care plays in supporting children’s healthy …
Stanford Study: One in Four Child Care Workers Reports Difficulty Affording Housing
With many of our nation’s early educators trying to survive on poverty-level salaries, a new Stanford study has found that one out of every four child care workers experiences difficulties …
Video: Child Care is Essential
There’s no question that child care is essential for working families and our economy. Addressing the nation’s long standing child care challenges will be integral to the success of any …
The State of Child Care Ahead of SOTU
As President Biden prepares to deliver his second State of the Union, and first to a divided Congress, First Five Years Fund (FFYF) has put together a state-of-play on a …
