According to a report by market research and consulting firm Grand View Research, child care prices in the United States will skyrocket over the next six years, rising at a rate of 3.9 percent each year from 2020 to 2027.
According to the report, most of this is attributable to the pandemic’s effects and the increased demand for child care, which has resulted in higher prices and more chances for child care enterprises.
According to a Care.com poll, 72 percent of parents currently report increasing child care costs.
This is reflected in the costs of raising a child. According to a recent U.S. government estimate, the average parent expects to spend $233,000 to raise a child.
Women’s engagement in the labor market was notably impacted by the pandemic: women lost much more employment than men during the pandemic, with 156,000 job losses in December 2020.
The findings of Grand View Research could be significant for large child-care businesses.
Natura & Co. Holding S.A. ADR (NYSE: NTCO), Bright Horizons Family Solutions Inc. (NYSE: BFAM), and McGrath RentCorp (NASDAQ: MGRC) are all child care firms who have seen their stock rise in the previous year.
2021 (C) Benzinga.com. Benzinga does not offer financial advice. All intellectual property rights are reserved./n
