The rising expenses of child care and its limited accessibility are creating added pressure for caregivers and working parents across the country. In 2023, an Annie E. Casey Foundation Kids Count® report revealed that 13% of children under 5 lived in households where caregivers had to change jobs due to childcare issues. These transitions resulted in a staggering $122 billion annual loss for the U.S. economy, leading to reduced earnings, productivity, and tax revenue. Learn how access to child care affects parental job stability from PBS News Hour below. #larimerthrivebyfive #childcareissues #childcarecrisis
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Though #inflation is coming down in the US, it is still elevated for parents due to the #childcare crisis. Since January 2023, overall prices in the #CPI have increased by 4%. But over the same period, daycare and preschool prices have grown by 7%. The daycare and preschool subcomponent only comprises 0.7% of the total CPI, while many households are spending 20-30% of their income on childcare. If 20-30% of your budget is increasing at almost twice the rate as overall prices, you are still feeling relatively high inflation. For more about the #childcare crisis and how it negatively affects women’s labor force participation, productivity growth and overall economic growth, read our study by #KPMG Economics: https://lnkd.in/gVcZaxRF
Crisis in childcare and the state of work in America
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There is a #childcare crisis in the US today. The lack of access to quality and affordable childcare negatively affects women’s labor force participation, productivity growth and overall economic growth. From 1991-2024, the costs for daycare and preschool rose at nearly twice the pace of overall inflation. The labor force participation rate for women with children under 6 is 69%; for men it’s 95%. For more about the crisis in childcare and the state of work in America, read our study by #KPMG Economics: https://lnkd.in/gVcZaxRF
Crisis in childcare and the state of work in America
kpmg.com
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A new report finds the high cost of childcare is driving young families – especially Black families – out of New York City. For many NYC families, childcare is their biggest monthly expense – even more than rent. The median cost of care at an early childhood center in the Bronx, for example, would eat up nearly half of a family’s monthly income in that borough. This status quo is unsustainable and it exacerbates existing racial inequities. Families deserve access to affordable, high-quality child care regardless of where they live. https://lnkd.in/dMvy3_6z #childcare #prek #families #caregivers #blackfamilies #nyc #bronx #access #affordability #nyulangone #parentcorps
Most New Yorkers can’t afford childcare, driving young families out of the city, report finds
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In Metro Detroit, working mothers encounter complex challenges, notably stemming from limited access to childcare facilities and substantial financial burdens. The pandemic has intensified these difficulties, with closures of childcare centers disproportionately impacting women, who frequently shoulder primary caregiving responsibilities. Despite initial employment declines affecting both genders, women's workforce reintegration has been hindered, partly due to ongoing childcare constraints. Notably, the average annual cost of full-time childcare for two children in metro Detroit reached $21,880 in 2021 (according to the most recent U.S. Census estimates), further highlighting the pressing need for solutions to support working families. Learn more via: https://buff.ly/49WAeDL Hour Detroit Magazine #MidwestUrbanStrategies #WorkingMoms #ChildcareChallenges #MetroDetroit #ChildcareCosts #PandemicImpact #EmploymentStruggles #GenderDisparities #CaregiverBurden #WorkLifeBalance #SupportWorkingFamilies #ParentingStruggles #ChildcareAccess #EconomicImpact #WomeninWorkforce #FamilySupport #CommunityNeeds #ChildcareAffordability #EmploymentBarriers #FinancialBurden #WomenEmpowerment
How Lack of Childcare in Metro Detroit is Impacting Working Moms - Hour Detroit Magazine
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Advocating for moms, caregivers. Founder: CARRY™ Media, wife, working mom, Emmy-Award winning journalist and author
If you’re a working parent, then this news should come as no surprise: Childcare costs have outpaced inflation. 🤯 THIS IS A CRISIS. And the worst part? According to the Women's Bureau (Labor Department), there is a negative correlation between expensive childcare and maternal employment rates. Yep — WOMEN are more likely to stay home when the cost of childcare is unaffordable. Fortunately there are organizations like Kids Care Finder that are working to address the cost, access, and supply of #childcare. But as a country, we have SO FAR to go. How have you managed the untenable cost of childcare? And if you’re an employer — how are you showing up for your employees who are walking through this? #workingparents #workingparent #caregivers #caregiversatwork #childcarecosts https://lnkd.in/eXb8q_Gq
Leader | Innovator | Speaker | Founder | Childcare Expert | Top 40 Under 40 | 3x Boy Mom | CEO at Kids Care Finder | Sales Enablement | Training | Project Management
The childcare crisis is preventing the American economy from being able to thrive. Costs are outrageous, and over a million parents are forced to leave their jobs each year due to lack of #childcare. Meanwhile, more than 77% of employers are struggling to recruit talent. Kids Care Finder is the only childcare platform tackling all three of the areas that make up the problem: Cost, access, and supply. If we don’t help in each of these three areas, we cannot move the needle. Join the #momvement and help us ease the #childcarecrisis in America. Gabriella Cruz-Martínez
'We are in a crisis now:' Childcare costs outpace inflation
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While the myth of the modern #supermom endures, real #workingmothers have to navigate a siloed, broken #childcare system in America. CPR alumna Dagmawit Mengestu demonstrates how the current system is failing #families, forcing #mothers to choose between limiting their earnings to qualify for childcare support or facing the high costs alone. Without comprehensive policy reforms, she suggests that both the #childdevelopment and the professional #advancement of #lowincome mothers will continue to be hindered, potentially perpetuating cycles of #poverty and #inequality. #familiesfirst #motherhoodpenalty
A Balancing Act: Low-Income Mothers on the Childcare Benefits Cliff | Chicago Policy Review
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🔍 New Report Alert: Child Care Costs Are Outpacing Rent in Every State! 🏠💸 In 11 states, child care costs are DOUBLE that of rent. Why? Because policymakers view childcare as a personal responsibility—specifically for mothers—rather than a community asset and economic gamechanger. 📚 Check out Upwardly Global's findings on the unique challenges immigrant mothers face in accessing childcare. 🤝 Join our partners at Moms First and sign the petition to urge CNN to address childcare in the first presidential debate! 📋 Sign here: https://lnkd.in/eSs8HFBt #ChildCare
How To Advance Immigrant Women’s Access to Childcare: Policy Brief
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Leader | Innovator | Speaker | Founder | Childcare Expert | Top 40 Under 40 | 3x Boy Mom | CEO at Kids Care Finder | Sales Enablement | Training | Project Management
The childcare crisis is preventing the American economy from being able to thrive. Costs are outrageous, and over a million parents are forced to leave their jobs each year due to lack of #childcare. Meanwhile, more than 77% of employers are struggling to recruit talent. Kids Care Finder is the only childcare platform tackling all three of the areas that make up the problem: Cost, access, and supply. If we don’t help in each of these three areas, we cannot move the needle. Join the #momvement and help us ease the #childcarecrisis in America. Gabriella Cruz-Martínez
'We are in a crisis now:' Childcare costs outpace inflation
finance.yahoo.com
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Families aren't the only ones paying the high price of child care. The cost to employers is steep. #Childcare shortages contribute to increased absenteeism, tardiness, reduced productivity, turnover — and talent scarcity when parents make the economic decision to leave the workforce. The good news is that resources are available for #Michigan parents and employers. The bad news is that money is being left on the table. Our recent survey of West Michigan employers revealed employers need support to navigate the childcare landscape. That’s why we developed a toolkit to help guide our members through their options. We examined those options in our recent Spotlight Series event: https://lnkd.in/gh6vjyNN
Investing in Child Care Pays Dividends to Employers — and All of Us - TalentFirst
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High childcare costs prevent parents from remaining in the workforce. We need new policies aimed at alleviating some of the burden of childcare costs to promote mothers' participation in the labor force. The job market is booming right now, but there is nobody to fill these positions, especially in healthcare. This affects everyone in the community, including businesses. We need to make a change! "The current child care system in the United States is broken. The United States must prioritize the needs of millions of working families and take steps to keep mothers in the workforce through investing in policies to support access to affordable, quality child care." (American Progress, 2019)
The Child Care Crisis Is Keeping Women Out of the Workforce
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