Reshma Saujani: As America’s childcare crisis reaches a fever pitch, President Biden’s clarion call is necessary — but not sufficient.
Boston Consulting Group brief
forecasts a $290 billion hit to our GDP every year the country fails to address the lack of affordable childcare. Our study paints a more dire picture, finding that with women’s labor force participation muted, the U.S. is losing out on $840 billion in economic output annually — to say nothing of the costs incurred by individual companies as employees leave due to fluctuating childcare needs.
It's understandable that some businesses are looking for the government to lead: caring for small humans is as expensive as it is complicated. But investing in childcare is just that — an investment. And turns out, it’s a good one. In a moment when companies, employers that provide childcare have a clear leg up when it comes to recruitment.
Our Moms First study found that 88 percent of women looking for a job would be more likely to choose an employer who offers childcare benefits. Some 83 percent would be more likely to stay at their job if given better access to childcare.
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