The Child Care Opportunity: How Companies Can Save $70 Billion Annually

""We often think about infrastructure as roads, ports, or power grids—but child care plays a similarly critical role. It enables millions of workers to participate in the economy each day, and when access is disrupted, businesses see the impact through absenteeism, turnover, and lost productivity.""

""At the core, child care is the linchpin of workforce participation and affordability. Nearly 500,000 women left the workforce last year, mostly moms of young children who couldn't access or afford care. This is not a side issue, it determines whether people can work at all.""

Child care disruptions lead to a loss of $70 billion annually for companies, equating to over 1.2 million full-time workers. A survey reveals that 90% of parents experience work impacts due to child care issues, yet only 15% of companies provide child care benefits. The loss of child care access has driven nearly 500,000 women out of the workforce, highlighting its critical role in economic participation. Policy advancements are emerging to address these gaps, including free universal child care initiatives in some states.

Read at Forbes