State is losing more than $5 billion per year due to lack of child care access, study finds
Insufficient child care is costing North Carolina about $5.65 billion each year, a new study from the U.S. Chamber of Commerce Foundation estimates.
The report, released in partnership with the N.C. Chamber Foundation and NC Child, looked at the ways a lack of child care access hurts the state’s economy. Employers lose $4.29 billion a year because of job disruptions and turnover related to child care, and the state loses another $1.36 billion in tax revenue, the report found.
“When we couple the immediate needs of employers with the long-term workforce projections in the state, we simply cannot afford to leave people on the sidelines — and that is where access to affordable, quality child care is so critical,” Meredith Archie, president of the NC Chamber Foundation, said at a news conference Wednesday.
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