When Covid first ravaged New York City last spring, the closure of schools and daycares left families struggling to balance work and caregiving on a whole new level, driving many people out of the workforce entirely. As our city revs back into action, much remains to be done to fix the childcare crisis that the pandemic has revealed.

According to new 2021 research conducted by New York City Economic Development Corporation (NYCEDC), more than twice as many women as men left the NYC workforce during the first three months of the pandemic alone. Now, more than half of NYC women who are also home caregivers have cut back their working hours, and more than a half-million NYC residents are not able to look for paid work at all because they are too busy caregiving.

More than twice as many women as men left the NYC workforce during the first three months of the pandemic alone.

NYCEDC is addressing the crisis by launching the Childcare Innovation Lab.

Housed under women.nyc, the Childcare Innovation Lab works to re-frame access to childcare as a core economic development issue rather than a private family matter by leading research on the effects of childcare on NYC’s economy and families and advancing public-private action to expand accessible, affordable, quality childcare solutions across NYC.

On Friday, May 21, you can join the women.nyc Childcare Innovation Lab for our kickoff event, It’s not you, it’s an economic crisis: Forging NYC’s path towards accessible childcare – a virtual discussion hosted in partnership with Maven, the digital health company for women’s and family health. During this event, we’ll highlight new research on COVID-19’s impact on women in NYC and its implications for childcare, and present best practices for employers who want to support parents, followed by a panel discussion with public and private sector leaders exploring innovative solutions to address these challenges.

For far too long, lack of accessible childcare has been a systemic barrier to workforce participation and social mobility, especially for women and low-income families.

For far too long, lack of accessible childcare has been a systemic barrier to workforce participation and social mobility, especially for women and low-income families. The pandemic has exposed just how critical childcare is to a thriving economy and NYC businesses as women have faced a momentous reversal in employment gains in the largest “she-cession” in modern history.

It’s time for real change.

For more on the importance of childcare in NYC, see the Daily News op-ed from President and CEO Rachel Loeb, women.nyc Executive Director Faye Penn and Melissa Pumphrey, Vice President of Economic Research.