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.
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Posts
House Appropriations LHHS Subcommittee Holds Hearing on Teacher Shortages
The House Appropriations Subcommittee on Labor, Health and Human Services, Education, and Related Agencies (LHHS) recently held a hearing on “Tackling Teacher Shortages.” Witnesses included: Dr. Lindsey Burke, Director of …
Brookings Analysis: Federal Child Care Proposal Would Help Families Struggling with Inflation
New analysis from the Brookings Institute shows that meaningful federal investment in child care and early learning will reduce the impact of inflation on working families, raise labor force participation …
ACF, Labor, and Education Joint Webinar Highlights the Role of ECE Apprenticeships in Addressing Workforce Shortages
Last week, the U.S. Department of Health and Human Services’ Administration for Children and Families (ACF), the U.S. Department of Labor (DOL), and the U.S. Department of Education (ED) co-hosted …
Research Shows Low Pay is Associated with High Early Educator Turnover and Poor Student Outcomes
A new report finds that early educator turnover disrupts child-teacher relationships, which are crucial to children’s developmental outcomes. Researchers further found that turnover is higher in child care centers where …
Senate Banking Subcommittee Hearing Highlights the Connection Between Child Care Access and Growing the Economy
This week, the Senate Banking Subcommittee on Economic Policy held a hearing to discuss the importance of investing in child care to help grow the economy and slow the rate …
House Budget Committee Report Highlights Importance of Child Care for Women to Return to the Workforce
The House Committee on the Budget recently released a report discussing the disproportionate impact of the pandemic on women’s labor force participation and the need for policies that support their …
ECE Apprenticeship Grants Are an Important Piece of Supporting Child Care Workforce
The Administration for Children and Families (ACF) recently highlighted a grant opportunity in support of early care and education (ECE) apprenticeships. The U.S. Department of Labor’s (DOL) Apprenticeship Building America …
Walmart’s Child Care Plan Underscores Need for Federal Investment
As Axios reported this morning, Walmart announced that their new corporate headquarters in Bentonville, Arkansas, will include an onsite child care facility for employees’ children. Walmart’s announcement signals a clear recognition that …
HHS Secretary Becerra Marks ARP Anniversary in Conversation with Child Care Providers
On Friday, one year after the passage of the American Rescue Plan (ARP) Act, HHS Secretary Xavier Becerra convened a conversation with child care providers to celebrate the impact of …
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 …
