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Child care costs in the US have surged more than 30% since 2019, outpacing overall inflation, according to data from the Bank of America Institute. The average payment for child care has increased by 32%, while the Consumer Price Index rose by 20% over the same period. The rising costs are already impacting household spending and the labor market. Prime-working-age women's employment rate, which hit a record high a few months ago, has plateaued. The expiration of a major federal subsidy program for child care is expected to further exacerbate the situation. The child care crisis in the US is estimated to cost the economy $122 billion each year in lost earnings and productivity, disproportionately affecting people of color.
The child care crisis costs the U.S. economy $122 billion each year in lost earnings and productivity. https://t.co/jOKJcv6GAD. And it’s exacerbating in inequality-- people of color experience child care related job disruptions at nearly double the rate of white parents.… https://t.co/1oCX0NqSkm https://t.co/GBfUe6jvGZ
Household child care costs have spiked more than 30% since 2019, per Axios: https://t.co/Vg4Bprb4k2
Household child care costs have spiked more than 30% since 2019 https://t.co/3qBhlAVf8G
Childcare and pre-school continue to get more expensive, yet care workers are underpaid and harder to find. A look at the economics of running a childcare business https://t.co/sZLYCr8v6x
Childcare and pre-school continue to get more expensive, yet care workers are underpaid and harder to find. A look at the economics of running a childcare business https://t.co/tLtuNITY1c
Skyrocketing US childcare payments are already weighing on spending and the labor market, according to Bank of America Institute https://t.co/q09ri8PTDj
prime-working-age women's employment rate hit a record high a few months back and has since plateaued. watch this space now that a major federal subsidy program for child care has just expired https://t.co/dm8OVHkrCq
Household child care costs have spiked more than 30% since 2019 https://t.co/jmnoK2wYTN https://t.co/31gO4qv3fb
The average child care payment is up 32% from 2019, according to new data from the Bank of America Institute. The price surge outpaced overall inflation; the Consumer Price Index was up 20% over the same period. https://t.co/RUVey4WsjO