The childcare crisis in the U.S. is a complex issue with far-reaching personal and economic consequences. On the demand side, it’s often difficult for families to both find quality childcare and afford it. The average annual cost for childcare is typically between $12,000 and up to $24,000, depending on the region. On the supply side, even before the pandemic there was a shortage of childcare workers; and today, there are roughly 100,000 fewer childcare workers than there was pre-pandemic.
And now we have another headwind. The American Rescue Plan, one of the pandemic emergency programs, provided $24 billion in subsidies to childcare centers that suddenly had an even more acute shortage of workers. With the reality of fewer working-age people in the United States, many of those former childcare workers found easier office or remote work that usually paid better (see chart), and often with benefits. Owners of childcare centers had to raise wages to compete and most of the $24 billion was used to help cover those expenses. This kept a lot of childcare centers operational.
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