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
Child Care Sector Needs Immediate Relief to Keep Doors Open Through COVID-19 Crisis – and Through Recovery
If the child care industry collapses, working parents won’t be able to return to work WASHINGTON – Last night, the First Five Years Fund (FFYF) was joined by many of …
COVID-19 and Child Care
In response to questions about COVID-19 and its impacts for young children, their families, and child care providers, the Administration for Children and Families (ACF) released two resources today. ACF …
Solutions to Support the Child Care Market Through the COVID-19 Pandemic
Today, the Bipartisan Policy Center shared recommendations for immediate congressional action to ensure, in the midst of ongoing uncertainty about the impact of the COVID-19 pandemic, that the child care …
Bank Street Education Center Hosts National Strategy Discussion on Early Childhood Educators
On Monday, the Bank Street Education Center (Bank Street) hosted an event to discuss their new research and new national vision to invest in the early learning workforce. The event …
CNN Debate: 2020 Candidates Agree on Child Care
Last night during the final Democratic presidential debate before the Iowa Caucuses next month, child care became one of the rare unifying issues among the 2020 contenders. Debate moderator Brianne …
Small Business Loans and Child Care Providers
Whether it’s in a home, church, school, stand-alone center, or part of a larger office building, families rely on licensed child care providers in any number of settings to care …
HHS Undertakes Nationwide Child Care Listening Tour
The Department of Health and Human Services (HHS) just wrapped up a nationwide, 10-city listening tour, which featured roundtable discussions with parents, employers, child care providers, states and localities, tribal …
Strengthening the Early Childhood Workforce through Registered Apprenticeships
High-quality early childhood education (ECE) for kids from birth through age five – particularly those from low-income families – is proven to help children develop the social, emotional and academic …
Affordability is a Barrier to Child Care for Low Income Hispanic Households
The National Research Center on Hispanic Children and Families recently released new findings that emphasize the issue of child care costs for low-income Hispanic families and the barriers they face …
Business Group Utilizes Innovative Federal Grant to Support Child Care in Rural Maine
Access to affordable, high-quality child care is critically important for working families; it offers parents better job stability and economic security and improves the local economy, while helping children develop …
