When childcare costs too much, women stay home

The average price of childcare for two children, in nearly 81% of U.S. towns, costs more than rent, according to the Economic Policy Institute. The U.S. Department of Health and Human Services states that child care-related expenses should not exceed 10% of a family’s income. There has been a 168% jump in childcare and nursery school costs since the end of 1990, compared to 76% rise in consumer prices. Women are usually the ones to quit a job because of the high costs, mainly because they are more likely to be an infant’s initial primary caregiver. This can hurt the family’s financial well-being far into the future: a woman’s earnings drop 10% for every two years she’s out of a job.

Source: Slate, 10/7/15, Childcare Costs