Axios, September 2020
The child care industry is collapsing under the strain of the pandemic.
Why it matters: With parents making up a third of the U.S. workforce, the fate of schools and day care centers and the strength of the economy are inextricably linked — given that the hit to closed schools could be an estimated 3.5% of GDP.
“The child care system needs a large-scale, immediate bailout. Full stop,” says Alicia Modestino, an economist at Northeastern University.