JUST Capital reposted this
📢 The Parental Work Disruption Index: A New Measure of the Childcare Crisis Our latest report leverages Bureau of Labor Statistics (BLS) datasets, including previously unpublished data by gender and age, to provide an estimate of how many workers are impacted by inadequate #childcare options each month. We call this the Parental Work Disruption Index. Novel insights include: 🔹 Work Disrupted: Each month, between 1.2 to 1.5 million workers are either working part-time or missing work due to childcare problems. As of August 2024, the index is up 22% compared to the pre-pandemic baseline. 🔹 Women Affected Most: Nearly 90% of these workers are women, mostly aged 25-44. 1.6% of all employed women in the United States – totaling more than one million individuals each month – are working part-time or missing work due to childcare problems. 🔹 Men Increasingly Impacted: Though the total number of men impacted is still much lower than for women, men’s share has doubled from 6% in 2000 to 12% so far in 2024. 🔹 Lost Work Hours: Between 9 and 26 million potential work hours are lost each week due to childcare problems. This translates to a loss of 468 million to 1.4 billion hours each year. The lost hours result in lower pay for workers, stressing family budgets. The ensuing financial instability and unstable childcare arrangements harm children’s development. For businesses, the lost hours translate into lower productivity and output from both affected workers and coworkers. These compound over time and hurt competitiveness. Collectively, the millions of lost work hours due to inadequate childcare options dampen the potential growth of the entire US economy. For more insights and to look at the data, read our new report by #KPMG Economics. #ChildcareCrisis #WorkingParents #CareEconomy #EconomicGrowth #Productivity https://lnkd.in/emJGQdqu