The Cascading Effects of Childcare
The cost of childcare accounts for a significant expense in families. It is a barrier to employment and a barrier to prosperity for many households. Families are faced with the decision of whether it is truly worth it to work. Some opt to not work at all due to the cost cancelling out or even making them worse off financially. This takes them out of the workforce for longer which can make it more challenging in getting back into it. It can take them out of higher education opportunities because of the sheer double cost associated with fees on top of fees. And some are faced with less than ideal childcare arrangements. It trickles out to whether they can pay the rent, it affects the quality of food they eat, whether they go deeper in debt or can save for the future, to having negative consequences on the country’s economic growth.
Read More
