In the United States, our child care system is failing and this has hidden costs for working families. The typical annual cost for child care for a family with two children (an infant and a four-year-old) is nearly $18,000. That averages to about 30% of the typical working family's paycheck. This cost is so high that many can't afford it and leave the workforce altogether, with 75% of mothers and 50% of fathers in a recent poll saying they either left the workforce or switched to a less-demanding job.
When parents leave the workforce, they don't just lose their annual salary, it has a negative impact on both wage growth and retirement savings. A parent who leaves the workforce can lose up to four times their annual salary.
Visit the Center for American Progress' new site and input your information to learn how much the failing child care system in the United States could cost you. CAP also is sponsoring the Within Reach campaign, where you can learn more about how to get involved in the fight to make child care affordable for working families.
