Childcare Costs Keeping Women Out of Workforce
When there is a single income household that is having trouble making ends meet, the logical assumption would be to have the second parent enter the work force to supplement the family's income. This assumption fails to take in a very important factor: childcare costs.
More and more parents are coming to realize that sometimes having both parents working can prove to be less cost-effective than having one stay at home to look after their children. One of the main factors in this decision is the high cost of childcare.
When all the expenses for work are calculated including daily travel costs, lunch expenses, taxes, and childcare costs, many couples find that the net take home pay for the second partner working just doesn't make much of a contribution to the family's finances.
In nearly every state in the US, childcare costs have reached the point where those who have two children pay as much to have someone take care of them as they do for their rent. Due to these huge costs, more families are deciding that it's financially easier and less stressful to have one parent stay at home rather than find a job.
For many parents that run the numbers, a second income just doesn't make sense. Who wants to go to work and have someone else raise their kids just to be able to pay for that childcare? When given the choice of working to simply cover the cost of paying someone else to take care of the kids or raising the kids themselves, more are choosing the latter option.
The decision isn't always an easy one, however. The problem that the families face is that although the calculations make this decision easy, they still find it difficult to make ends meet on a single salary. More and more families find themselves in a Catch 22 where one salary isn't enough, but a second salary doesn't add much to the household income due to the childcare expenses.