Guest Post by Martin Armstrong
Bloomberg released a damning report that explains how childcare costs exceed the average price of rent in the United States. This does not factor in the various costs of raising a child, as it merely looks at the cost of sending them to daycare. The true reason we are seeing a birth rate crisis across the world comes down to economics.
Over half of families (53.3%) were dual-income earners in the United States as of 2019. That figure has been steadily rising over the years, and we will see more parents re-enter the workforce amid the cost of living crisis.
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