For working parents, a lack of affordability and a provider shortage have made finding quality child care challenging at best, and nearly impossible for many. With too few resources available, a desperate workforce is turning to their employers for anything resembling help. Are employers up to the challenge?
Sixty-seven percent of parents spent at least 20% of their household income on child care last year — up from 51% of parents in 2022, according to Care.com. Child care payments have gone up 32% since 2019, according to the Bank of America Institute, and Care.com data shows the average monthly cost for a nanny is $3,190, while a daycare center spot costs parents an average of $1,230 each month.
