The cost of child care nationwide continues to climb, with prices climbing by 29 percent between 2020 and 2024, a rate that outpaces overall inflation, writes Emily Peck for AXIOS.
According to data from Child Care Aware, in Pennsylvania, the average annual cost of daycare for one toddler and one infant rose to $27,400 over the period.
This placing the state roughly in the middle compared to others, with costs ranging from $47,000 in Massachusetts to $14,600 in Mississippi.
The figure is also nearly in line with the national average, which rose to $28,168 last year, or roughly 35 percent of the nation’s median annual household income.
The rising cost of child care puts a major financial strain on families, forcing some parents, usually women, to reduce their working hours or leave the workforce entirely. For single parents, the cost is even more punishing.
While the United States does not have publicly funded universal child care, the federal government does allocate money into the system for low-income families through several programs.
Although there were concerns that some of the programs might be cut under the new administration, officials have denied these claims.
To understand what’s really driving these soaring costs and what it means for working families across the country, read the full Axios report.
_____
