Answer:
The childcare industry is critical to the American economy. This sector generates its economic output, but since childcare ensures that working parents can go to work, the industry also acts as a support to every other industry. In other words, when the childcare industry is strong, it boosts other sectors, too.
The childcare system in this country is in serious need of attention and reform, and there has been a shortage of accessible and affordable childcare centers in the U.S., meaning many working parents are left without the support system they need to go to work every day and provide for their families.
Breakdowns in the childcare industry are impacting families, businesses, and the economy in many ways:
Parents are having difficulty finding quality childcare and balancing caring for children at home with work
Children are missing educational opportunities and social interactions
Childcare providers are fighting to stay open
National, state, and local economies are hemorrhaging millions, if not billions of dollars, as the industry struggles to fully support the labor force.
Step-by-step explanation:
Due to gaps in the childcare system, businesses are unable to fully re-staff their operations, leading to more closures and operating hour reductions across all industries. Absences and employee turnover cost employers anywhere from $400 million to $3 billion a year.