Early Care & EducationEconomic Impact
Child care is the foundation of a healthy, thriving economy and economically stable families. Businesses cannot function or be profitable without staff. Parents and caregivers are only able to be productive, reliable employees if they have access to affordable, high-quality child care while they go to work.
A STAGGERING 86 percent
of working parents are negatively impacted at work due to issues with child care. It is estimated that, even prior to the pandemic, the child care crisis annually costs Wisconsin at least $1.9 billion in lost economic productivity, earnings and revenue. The United States loses an estimated $122 billion a year due to these challenges.
Employers across Wisconsin
and from a variety of industries recognize the impact accessible and affordable child care has on their employees and business productivity. A 2021 survey found nearly two-thirds of business owners believe it is important for Wisconsin businesses to support child care for their employees. More than 75% of business owners believe the state economy is impacted by families’ ability to access affordable, high-quality child care.
IN THEIR WORDS
Watch this video for insight from Wisconsin employers on employees’ experiences with child care challenges, business impacts, and the importance of child care for economic growth.
The impact began long before the COVID-19
pandemic began, but the health crisis significantly worsened workforce participation issues, particularly for working mothers. Hundreds of thousands of parents left the paid labor force starting in 2020, many due to lack of child care options. Work absences due to child care issues had long been a trend, but they, too, increased substantially after the pandemic began.
Dig In Further
Billions in Impact
A report released in February 2023 shows the annual economic impact of the infant-toddler child care crisis stands at $122 billion.
A recent study of Wisconsin businesses finds employers know the importance of child care for employees and productivity.