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 Statement on White House’s “Making Care Work”
On Wednesday, April 17, the White House brought together governors, advocates, and business leaders to underscore the important role child care plays not only in supporting working families but in …
New Poll: Small Business Owners Need Federal Action on Child Care
(Washington, DC) – A new report from Small Business Majority – a national small business organization with a network of 85,000 small businesses – has found that more than two-thirds …
FFYF Statement on POTUS Care Economy Event
Today, President Biden joined care workers to discuss his administration’s focus on expanding access to affordable, high-quality child care and other care priorities. FFYF’s Executive Director Sarah Rittling released the …
The First Five Things to Know About: The Child Care Investment Act 2023
Millions of working families with young children need quality child care, but affordable, reliable options can be hard to find. Without it, many parents are forced to miss work or …
FFYF Joins White House, SBA for Child Care Roundtable
This week, the White House and Small Business Administration (SBA) announced new actions to support small businesses that offer child care for working families. FFYF Executive Director Sarah Rittling joined …
The First Five Questions for Hollis Wells Silverman
In this month’s FFYF’s First Five Questions series – which brings together interesting leaders, experts, and voices together to talk about child care challenges and solutions – Executive Director Sarah …
2024 Hill Briefing: ABCs of Federal Child Care and Early Learning
WASHINGTON, D.C. – The First Five Years Fund (FFYF) hosted Congressional staff for its annual bipartisan “ABCs of Federal Child Care and Early Learning” briefing. The session focused on the …
New Employer Child Care Survey from CARE.com
A new survey from Care.com finds that child care benefits have become a top priority for employees and employers alike. As Axios sums up, “Child care outranked mental health support, …
Fact Sheet: Child Care and the Economy
Affordable access to child care supports a child’s healthy development, ensures parents can go to work or school, and helps businesses and our economy thrive. But millions of American families …
How States Are Using PDG B-5 Grants to Support Career Pathways
The BUILD Initiative, ZERO TO THREE, and Start Early, recently released a new brief highlighting the strategies states are using to improve career pathways in their Preschool Development Grant Birth …
The Crucial Role of Early Educators and the Need for Increased Compensation
Early educators are underpaid and undervalued for the challenging and important work they do. When determining what factors make an early care and education (ECE) program high quality, it’s the …
Bipartisan Child Care Town Hall with Representatives Bonamici and Hinson
WASHINGTON, D.C. – The First Five Years Fund (FFYF) hosted Congresswomen Suzanne Bonamici (D-OR) and Ashley Hinson (R-IA) for a town hall to discuss the importance of child care in their …
