The lack of affordable childcare is hurting our workforce.
The cost of childcare in Santa Clara County has risen to unaffordable levels for families, forcing many to leave the workforce or the county entirely. 40% of women in STEM careers in Silicon Valley left or changed jobs after having their first kid. This has resulted in a workforce crisis in Santa Clara County, with many businesses unable to staff up and stay open.
Increasing access to childcare will help our economy grow.
Investments in childcare benefit our entire economy. When parents are able to work, they contribute more revenue from taxes and have more money to participate in our local economy. These investments increase employee productivity, decrease absences (20-30%) and decrease turnover (37-60%), improving economic outcomes for businesses. Furthermore, children with access to early childcare are less likely to need costly interventions later in life, saving the county and cities money.
We can’t afford to fail to act – it’s costing us too much.
Watch why Jo Lopez, owner of LUNA Mexican Kitchen, supports affordable childcare for a stronger economy.
By the Numbers:
Gain Per Dollar Invested
Every dollar we invest in childcare programs for children facing barriers yields up to $7.30 for our economy.
A Year in Lost Wages
A lack of affordable, reliable child care costs working families across the country more than $8.3 billion in wages annually.
Cost to Businesses per Working Parent
Turnover and absenteeism due to lack of access to childcare costs businesses $1,150 per working parent every year
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