{"id":4238,"date":"2024-01-30T16:16:59","date_gmt":"2024-01-30T16:16:59","guid":{"rendered":"https:\/\/www.care.com\/about\/?p=4238"},"modified":"2024-01-30T16:16:59","modified_gmt":"2024-01-30T16:16:59","slug":"the-year-of-the-parent-and-the-future-of-childcare","status":"publish","type":"post","link":"https:\/\/www.care.com\/about\/the-year-of-the-parent-and-the-future-of-childcare\/","title":{"rendered":"The year of the parent and the future of childcare"},"content":{"rendered":"<p>Earlier this month, we unveiled Care.com&rsquo;s <a href=\"https:\/\/www.care.com\/c\/how-much-does-child-care-cost\/\" target=\"_blank\" rel=\"noreferrer noopener\">2024 Cost of Care Report<\/a>, our 11th year documenting the cost of childcare and its impact on American families. When I sat down to write this post about the findings, I began with the thesis you might expect: The numbers are staggering and something must change. That is absolutely true &ndash; more on that to come &ndash; but another truth crystallized for me as well: As we roll into this presidential election year, there is more momentum and power to force real change to our care system than ever before. Hear me out on this: we are witnessing a unique convergence of economic, political, and societal issues that have made our childcare crisis a leading story in our national discourse.<\/p><p>First there was the rise and spread of childcare deserts, then the severely reduced care options during the pandemic, and now families are facing the realities of <a href=\"https:\/\/www.care.com\/c\/child-care-crisis\/\" target=\"_blank\" rel=\"noreferrer noopener\">the child care cliff<\/a>, including more daycare closures and extended waitlists. Each of these events has been an inflection point and together, they demonstrate once and for all that care can either be an economic lever for America or a major threat. Collectively, we have the power to make it the former. And what we all do over the next several months, on election day, and beyond is the key. So how and where do we start?<\/p><h2 class=\"wp-block-heading\" id=\"h-the-state-of-childcare-in-2024\"><strong>The state of childcare in 2024<\/strong><\/h2><h3 class=\"wp-block-heading\" id=\"h-the-cost-of-childcare\"><strong>The cost of childcare<\/strong><\/h3><p>First, we must understand the reality of childcare in America today. The 2,000 respondents to our survey told us the following:<\/p><ul class=\"wp-block-list\"><li>On average, they spend 24% of their household income on childcare expenses, which is more than three times what the<a href=\"https:\/\/www.federalregister.gov\/documents\/2016\/09\/30\/2016-22986\/child-care-and-development-fund-ccdf-program\"> U.S. Department of Health and Human Services<\/a> deems affordable (7%).<\/li><li>This translates into an expense that costs nearly half (47%) of families $18,000 or more each year.<\/li><\/ul><p>Given these high costs, we dug deeper to understand just how families were footing care bills. Candidly, this data left us shocked:<\/p><ul class=\"wp-block-list\"><li>35% of respondents reported using some of their savings to augment care costs.<\/li><li>Of that group, they were using nearly half (42%) of their savings on childcare.<\/li><li>On average, those savings would only last six months.<\/li><\/ul><p>In other words, families are digging themselves into deep financial holes just to cover care costs for the first five years of their children&rsquo;s lives. The first five years.<\/p><h3 class=\"wp-block-heading\" id=\"h-the-impact-of-the-childcare-cliff\"><strong>The impact of the childcare cliff<\/strong><\/h3><p>On September 30, 2023, the country went over what has been named &ldquo;the childcare cliff,&rdquo; the expiration of federal funding that could impact<a href=\"https:\/\/tcf.org\/content\/report\/child-care-cliff\/\" target=\"_blank\" rel=\"noreferrer noopener\"> 70,000 child care programs<\/a>. Some questioned if the impact would be that vast and it was unclear how soon any impact might be felt. With our 2024 Cost of Care report, we were able to document some of the first real data about the cliff impact, and it is decidedly real.<\/p><p>Our survey &ndash; which was in the field just six weeks after the cliff &ndash; revealed the following:<\/p><ul class=\"wp-block-list\"><li>Nearly 40% of parents (39%) were <em>already <\/em>paying more because their daycare was impacted.<\/li><li>A vast majority of parents (79%) expect to be impacted by the cliff in 2024.<\/li><li>A majority (54%) expect they will spend an additional $7,000 or more on childcare this year due to the cliff.<\/li><\/ul><p>Regrettably, cost represents just one facet of the problem; availability is another. Many parents now struggle to secure a daycare slot with 43% having a harder time finding care versus prior years. Waitlists are not a new occurrence &ndash;<a href=\"https:\/\/childcaredeserts.org\/2018\/\"> 51% of families reported to be living in a &ldquo;child care desert&rdquo;<\/a> in 2018 &ndash; but they are becoming longer and more pervasive.<\/p><ul class=\"wp-block-list\"><li>Nearly two-thirds of parents (65%) on the hunt for a daycare slot often find themselves on waitlists and the vast majority (81%) likely sit on multiple lists simultaneously.<\/li><li>Since the onset of the cliff in September 2023, 62% of waitlisted parents say centers have closed while they sat on their waitlists and 54% have experienced waitlist extensions.<\/li><li>Waiting is costing parents an additional $200 or more a week on care to fill in the gap with other care options.<\/li><\/ul><p>And finally, the cliff could cause a repeat of what happened during the pandemic, when daycare closures forced nearly 3 million women out of the workforce to care for their children (AKA the Great Resignation). Though women have now returned to work at pre-pandemic levels, we cannot forget what is at stake. According to an analysis from the<a href=\"https:\/\/nationalpartnership.org\/wp-content\/uploads\/2023\/02\/cost-of-inaction-lack-of-family-care-burdens-families.pdf\" target=\"_blank\" rel=\"noreferrer noopener\"> National Partnership for Women and Families<\/a>, the Great Resignation cost the U.S. economy more than $650 billion each year. Can our economy afford that again?<\/p><h2 class=\"wp-block-heading\" id=\"h-how-we-move-forward\"><strong>How we move forward<\/strong><\/h2><p>While these numbers are startling, we at Care believe there is a bright side in all of this. Each hit that parents and the childcare industry have taken over the last several years has done what no amount of research or lobbying could do: prove to everyone, once and for all, that care is the key to the economy. At the end of the day, as a nation, we can either nurture care and nurture the economy, or continue to starve care and starve the economy. It is certainly clear what parents would say and given that 40% of American households include children, what parents say matters.<\/p><p>In fact, while parents have no doubt felt powerless to control the events of recent years, I would posit that, as we head into the 2024 presidential election, they have more power now than ever before. It is well documented that childcare is a bi-partisan issue and that is understandable since every elected official counts parents and families among their constituents. The obstacle to rebuilding our care infrastructure has been agreement on what should be done and how we pay for those changes. And so, the issue has been repeatedly back burnered and nothing meaningful has happened in decades. But what if parents used their collective voice &ndash; in the form of votes &ndash; to force the issue? What if they made it clear to our elected officials and those who seek to lead us that childcare&rsquo;s time has come and without a plan for childcare, those officials might not have jobs?<\/p><p>This is more plausible than ever before. Nearly 9 in 10 parents (88%) responding to our survey said a candidate&rsquo;s position on childcare policy will influence their vote and the majority (59%) said childcare policy was a top 3 priority issue impacting their voting decision. And parents expect to hear plans before they enter the voting booth in November with 91% of parents saying it is important for childcare to be discussed during the debates. In fact, childcare ranked second as the topic parents most wanted addressed during the debates, behind the economy and ahead of other important issues such as healthcare, climate change, racial and social justice, and immigration.<\/p><p>We have roughly eight months to mobilize&hellip;eight months to ensure that every parent steps into their power. 2024 will be the year childcare finally takes centerstage in Washington and Care will be there every step of the way amplifying your voices and making sure you are heard. Stay tuned for what Care has to come. Together, let&rsquo;s make 2024 &ldquo;The Year of the Parent.&rdquo;<\/p>","protected":false},"excerpt":{"rendered":"<p>Earlier this month, we unveiled Care.com\u2019s 2024 Cost of Care Report, our 11th year documenting the cost of childcare and its impact on American families. When I sat down to write this post about the findings, I began with the thesis you might expect: The numbers are staggering and something must change. That is absolutely <a class=\"more-link\" href=\"https:\/\/www.care.com\/about\/the-year-of-the-parent-and-the-future-of-childcare\/\">Read more&#8230;<\/a><\/p>\n","protected":false},"author":1440,"featured_media":4239,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"enable_toc":false,"care_reviewed_by":0,"care_post_updated_flag":false,"care_updated_date":"","last_update":"2024-01-30","footnotes":""},"categories":[1],"tags":[27,17,26,34,33],"class_list":["post-4238","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-care-economy","tag-care-economy","tag-childcare","tag-childcare-cliff","tag-election","tag-policy"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.3 (Yoast SEO v25.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The year of the parent and the future of childcare - Care.com Corporate<\/title>\n<meta name=\"description\" content=\"Explore the findings of our 2024 Cost of Care Report and the pivotal role of affordable childcare in shaping a brighter future for families and the economy.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.care.com\/about\/the-year-of-the-parent-and-the-future-of-childcare\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The year of the parent and the future of childcare\" \/>\n<meta property=\"og:description\" content=\"Explore the findings of our 2024 Cost of Care Report and the pivotal role of affordable childcare in shaping a brighter future for families and the economy.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.care.com\/about\/the-year-of-the-parent-and-the-future-of-childcare\/\" \/>\n<meta property=\"og:site_name\" content=\"Care.com Corporate\" \/>\n<meta property=\"article:published_time\" content=\"2024-01-30T16:05:53+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-01-30T16:16:59+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.care.com\/about\/wp-content\/uploads\/sites\/4\/2024\/01\/LwC_Jan-2024-Image.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"724\" \/>\n\t<meta property=\"og:image:height\" content=\"483\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Brad Wilson, CEO\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Brad Wilson, CEO\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.care.com\/about\/the-year-of-the-parent-and-the-future-of-childcare\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.care.com\/about\/the-year-of-the-parent-and-the-future-of-childcare\/\"},\"author\":{\"name\":\"Brad Wilson, CEO\",\"@id\":\"https:\/\/www.care.com\/about\/#\/schema\/person\/e31cde2541ea992c55a50f267150e6a6\"},\"headline\":\"The year of the parent and the future of childcare\",\"datePublished\":\"2024-01-30T16:05:53+00:00\",\"dateModified\":\"2024-01-30T16:16:59+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.care.com\/about\/the-year-of-the-parent-and-the-future-of-childcare\/\"},\"wordCount\":1174,\"publisher\":{\"@id\":\"https:\/\/www.care.com\/about\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.care.com\/about\/the-year-of-the-parent-and-the-future-of-childcare\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.care.com\/about\/wp-content\/uploads\/sites\/4\/2024\/01\/LwC_Jan-2024-Image.jpg\",\"keywords\":[\"care economy\",\"childcare\",\"childcare cliff\",\"election\",\"policy\"],\"articleSection\":[\"Care Economy\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2024\",\"copyrightHolder\":{\"@id\":\"https:\/\/www.care.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.care.com\/about\/the-year-of-the-parent-and-the-future-of-childcare\/\",\"url\":\"https:\/\/www.care.com\/about\/the-year-of-the-parent-and-the-future-of-childcare\/\",\"name\":\"The year of the parent and the future of childcare - 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Wilson was appointed CEO of Care.com in June 2023 after having helped build and grow several major consumer brands. As CEO, he is responsible for Care.com\u2019s strategic direction, leadership and growth, as well as its commitment to deliver on its mission to transform how families around the world connect with and manage care for their loved ones. Prior to joining Care.com, Brad was both General Manager for the US business of HBO Max and Executive Vice President of Global Data Sciences and CRM from 2020-2022. During his tenure, he drove substantial subscriber growth, played a key role in launching HBO Max in 61 countries, and led meaningful improvement across global subscriber retention and customer satisfaction metrics. Previously, Brad was Executive Vice President of Marketing for Disney+ and helped launch the service, the first of its kind for The Walt Disney Company, across the US and in international markets. Disney+ has been recognized as the fastest-growing subscription service on record. He also co-led the launch of the Disney Bundle service, combining Disney+, ESPN+ and Hulu into a single consumer offering. Earlier, Brad was Chief Marketing Officer and Head of Customer Operations for LendingTree, repositioning the brand and driving record revenue and profitability. From 2011-2015, he served as Chief Marketing Officer of Travelocity before being elevated to General Manager of the company, during which time he delivered the highest customer growth and total profitability in the brand\u2019s history. Brad previously held roles at Nutrisystem, Inc. and Match.com. Recognized in 2021 by Business Insider as one of the \u201cChief Marketing Officers to Watch,\u201d Brad has also spoken at major events including the Digital Entertainment World 2022 Annual Conference (keynote) and Stanford Graduate School of Business (guest speaker, 2021). He currently serves as an advisor for Koddi and Advisor.com, two technology start-ups, and previously served on the Board of Directors for SmarTours and Carparts.com. Brad received his MBA from the Cox School of Business at Southern Methodist University and his BS from the University of Texas at Austin. 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Wilson was appointed CEO of Care.com in June 2023 after having helped build and grow several major consumer brands. As CEO, he is responsible for Care.com\u2019s strategic direction, leadership and growth, as well as its commitment to deliver on its mission to transform how families around the world connect with and manage care for their loved ones. Prior to joining Care.com, Brad was both General Manager for the US business of HBO Max and Executive Vice President of Global Data Sciences and CRM from 2020-2022. During his tenure, he drove substantial subscriber growth, played a key role in launching HBO Max in 61 countries, and led meaningful improvement across global subscriber retention and customer satisfaction metrics. Previously, Brad was Executive Vice President of Marketing for Disney+ and helped launch the service, the first of its kind for The Walt Disney Company, across the US and in international markets. Disney+ has been recognized as the fastest-growing subscription service on record. He also co-led the launch of the Disney Bundle service, combining Disney+, ESPN+ and Hulu into a single consumer offering. Earlier, Brad was Chief Marketing Officer and Head of Customer Operations for LendingTree, repositioning the brand and driving record revenue and profitability. From 2011-2015, he served as Chief Marketing Officer of Travelocity before being elevated to General Manager of the company, during which time he delivered the highest customer growth and total profitability in the brand\u2019s history. Brad previously held roles at Nutrisystem, Inc. and Match.com. Recognized in 2021 by Business Insider as one of the \u201cChief Marketing Officers to Watch,\u201d Brad has also spoken at major events including the Digital Entertainment World 2022 Annual Conference (keynote) and Stanford Graduate School of Business (guest speaker, 2021). He currently serves as an advisor for Koddi and Advisor.com, two technology start-ups, and previously served on the Board of Directors for SmarTours and Carparts.com. Brad received his MBA from the Cox School of Business at Southern Methodist University and his BS from the University of Texas at Austin. He is the proud parent of three children.","url":"https:\/\/www.care.com\/about\/author\/bradwilson\/"}]}},"created":null,"_links":{"self":[{"href":"https:\/\/www.care.com\/about\/wp-json\/wp\/v2\/posts\/4238","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.care.com\/about\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.care.com\/about\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.care.com\/about\/wp-json\/wp\/v2\/users\/1440"}],"replies":[{"embeddable":true,"href":"https:\/\/www.care.com\/about\/wp-json\/wp\/v2\/comments?post=4238"}],"version-history":[{"count":9,"href":"https:\/\/www.care.com\/about\/wp-json\/wp\/v2\/posts\/4238\/revisions"}],"predecessor-version":[{"id":4255,"href":"https:\/\/www.care.com\/about\/wp-json\/wp\/v2\/posts\/4238\/revisions\/4255"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.care.com\/about\/wp-json\/wp\/v2\/media\/4239"}],"wp:attachment":[{"href":"https:\/\/www.care.com\/about\/wp-json\/wp\/v2\/media?parent=4238"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.care.com\/about\/wp-json\/wp\/v2\/categories?post=4238"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.care.com\/about\/wp-json\/wp\/v2\/tags?post=4238"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}