DUE TO INADEQUATE CHILD CARE
Montana ranks 40th in the nation in child care availability.
WHY DOES IT MATTER?
Science shows the early years of a child’s brain development are the most important. Economics indicate that Investments in early care can yield high returns on investment. Families know that the availability of early care can make or break the financial future of working parents.
Partnerships with the private sector offer the most promising opportunity for innovation and progress.
It matters for businesses.
Insufficient access to affordable high quality child care means fewer parents in the workforce, missed work and lower productivity.
57 % of businesses reported a shortage of affordable childcare options in their community
60 % of businesses feel that childcare should be a priority
30% of businesses said inadequate childcare has impacted their ability to grow
“For American business, high-quality childcare is a smart investment. It supports the workforce of today (parents), while helping lay the strong foundation necessary for success in the future workforce (children). High-quality, affordable childcare is critical to a healthy, prosperous economy.”
– US Chamber Foundation
It matters for families.
Child care costs can be crippling to families forcing them to leave the workforce and their capacity to build their careers and earning capacity for the future of their family.
22% of Montana parents turned down a job, 15% scaled back from full-time to part-time, 12% quit a job due to childcare challenges.
“My personal experience with affordable childcare was having to choose between maintaining my career at the detriment of our family’s net income or accepting a 5 year resume gap”
It matters for children.
High quality care provides developmental supports, social- emotional skill- building for school readiness and future success
DID YOU KNOW?
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Montana Families Lose*
dollars annually - In lost wages.
*families with children ages 0-5
Montana Businesses Lose
dollars annually in employee productivity and turnover.
Montana Taxpayers Lose
dollars annually in reduced tax revenues.
Bureau of Business and Economic Research University of Montana Lost Possibilities: The Impacts of Inadequate Child Care on Montana’s Families, Employers and Econom Sponsored by Federal Reserve Bank Minneapolis
SEE THE RESEARCH:
“The Impacts of Inadequate Child Care on Montana’s Families, Employers and Economy”
— Bureau of Business and Economic Research University of Montana, Missoula
Sponsored by the Federal Reserve Bank of Minneapolis September 2020