Childcare is critical to a thriving economy in New York City and beyond. For far too long, lack of accessible and affordable childcare has been a systemic barrier to workforce participation and economic mobility for women, especially women of color, and low-income New York City families. We have a once in a generation opportunity to not only solve the childcare crisis, but to reimagine a future of care that is designed to meet the diverse needs of families.
Mayor Adams has released a Blueprint for Childcare & Early Childhood in New York City to provide affordable, equitable, high-quality childcare and education across the city. As part of the Blueprint, we have produced, “Employers & Childcare: NYC Toolkit for Family-Friendly Companies,” to provide resources to New York City employers who want to be partners in expanding access to quality childcare.
NYCEDC Research: A crisis for working women and mothers
76% of parents worry about having a family in NYC, and almost half have considered moving to afford care.
In NYC, moms working fulltime experience a wage gap of 86 cents/dollar earned by non-mothers, while dads earn $1.03/dollar earned by non-fathers.
Over 90% of childcare workers are women, mostly women of color and immigrants; 25% live in poverty and 53% qualify for childcare subsidies.
In early 2021, 519,000 people in the New York Metro area were not seeking paid work due to caring for a child at home.
The Childcare Innovation Lab
Childcare is at once an urgent economic challenge and a $260B market that is ripe for innovation. At the Childcare Innovation Lab, we aim to make NYC the center of care economy innovation by:
- Researching childcare as an economic issue
- Catalyzing public and private sector solutions for key economic challenges facing childcare
- Supporting innovative approaches to the future of care for NYC and beyond
Benefits for Business
For employers, high-quality childcare is a smart investment. It supports the workforce of today, while laying foundations for the success of the future workforce. Companies offering childcare benefits see:
Employee absences decrease by up to 30% and vacancies are filled faster and with better qualified applicants.
Companies see increased gender diversity and more women advancing to leadership positions.
Interested in participating in future programming?
A business leader interested in building public/private partnerships?
Contact us at [email protected]