The Crucial Role of Affordable Child Care in Strengthening the US Economy
Child Care: The Hidden Engine Fueling the US Economy
Access to affordable and reliable child care remains a significant challenge for millions of families across the United States. According to recent findings, the average annual expense for child care soared to $11,582 in 2023, a figure that often exceeds the tuition fees for public colleges in many states. This staggering cost not only burdens families but also has broader implications for workforce participation and the overall economy.
Understanding the Landscape
The landscape of child care is increasingly tested as families face numerous obstacles in securing quality early care and education (ECE). Many families who need child care simply cannot find affordable options. The report published by the Committee for Economic Development (CED) sheds light on the factors hindering access and suggests potential pathways for improvement.
Economic Barriers
- - In 45 states and Washington D.C., the cost of child care for two children often surpasses average mortgage payments, making it financially crippling for many parents.
- - Additionally, 60% of rural families find themselves in
Topics Policy & Public Interest）
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