Research released by the business-leader group ReadyNation shows that the crisis costs the national economy $172 billion every year.

WASHINGTON, DC – The lack of action by federal, state, and local policymakers has caused the economic impact of the child care crisis to escalate since 2018. The crisis now costs businesses, parents, and taxpayers $172 billion nationwide in lost productivity, earnings, and revenue every year. Worse, this problem will continue to grow unless policymakers address the fragile infrastructure of the child care sector.

That was the top-line message from a new report, “The Child Care Crisis Costs the U.S. Economy $172 Billion Each Year,” released by the business-leader organization ReadyNation at a Capitol Hill briefing Wednesday morning. ReadyNation is a national membership organization of more than 2,000 executives who work to build a skilled workforce by promoting evidence-based solutions that prepare children to succeed in education, work, and life.