The Rising Cost of Childcare

3 months ago 1

The Rising Cost Of Childcare

A child plays football with his father at Can Pere Antoni Beach in Palma de Mallorca. JAIME REINA/AFP via Getty Images hide caption

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JAIME REINA/AFP via Getty Images

A child plays football with his father at Can Pere Antoni Beach in Palma de Mallorca.

JAIME REINA/AFP via Getty Images

More than 40 percent of American families are struggling to find affordable childcare.

A new report from the Economic Policy Institute shows that childcare for one infant now costs more than rent in 17 states and more than in-state college tuition in 38 states.

These increasing costs mean more parents of young children are at a crossroads: Drop out of the workforce to save on childcare, or have their salaries eaten up by high childcare costs?

How have costs gotten so high? And what effect do high childcare costs have on our economy?

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