During the pandemic there was a lot of conversation about child care services and how badly they'd been affected. But the reality is a little different. Here is total revenue for the child care industry over the past decade:
Child care services briefly dropped by a third at the start of the pandemic, but had almost completely recovered within a year. Since then, child care revenue has been above its pre-pandemic level and only slightly below its trend level. This is not an industry that was ever in any special distress for more than a few months at most.
I find the US childcare industry to be baffling.
- On the one hand, many lower- or middle-class people can’t really afford childcare.
- On the other hand, most childcare workers can’t afford to comfortably live.
I struggle to reconcile the aforementioned, seeming, contradiction.
That is why, if family is not immediately available, people use unlicensed centers. Worse service and pay for employees, but the only thing people can afford.
Being back to where it was, when where it was was not a good place, is not good.
Well, it is an industry that, by definition, can't be very efficient. The staff to child ratio is very low. You also need some extra staff to cover breaks, illnesses, etc.
Most daycare centers use money from preschool kids to subsidize infant care, so things get even tougher when preschool moves to public elementary schools.
And the high cost/low wage issue is also common in nursing homes, which have similar efficiency issues. Constant hands-on care of another human just takes a lot of human effort.
Red state legislators: Daycare workers don't need breaks! Stay-at-home moms don't get any time off, why can't these lazy women do the same for other people's kids?
I think this is correct, and also compounded by other weird things about the childcare industry that make it uniquely difficult to scale. This includes the fact that people who actually need childcare tend to be at early stages in their careers when they make comparatively little money, and that most people don't really think much about childcarfe at all until they desperately need it, then obsess about it for five years or so, and then totally forget about it.
The basic fact is that the profit margin in childcare is ridiculously thin, and so when you see persistent drops in revenue like Kevin is showing it probably means that there is some serious action happening; he's really being a bit too glib about it.
Finally, my paycheck is $ 8,500 A working 10 hours per week online. My brother’s friend had an average of 12K for several months, he work about 22 hours a week. I can not believe how easy it is, once I try to do so. This is what I do
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Revenue is not the same as number of children receiving care. Revenue might be the same but it may have been more difficult to get help, the number of children may have decreased. Revenue is not the only metric.
I was thinking the same thing. If half the number of kids are being taken care of for twice the price that chart might look the same. But then I realized I don't even know what Total Revenue for Child Care Services means. I guess it is revenue per attendee? But that does not make sense to me because costs should have gone up during the period when it was nearly impossible to find an open location.
OK, my initial take was right. That is for the industry in millions of dollars (in other words revenues are about 15 billion). So without knowing more the statistic tells us very little.
This is quite a stupid take.
Fewer centers charge more because demsnd is high. Similar revenue though you lied when you said it recovered, it's below trendline Mr. child free by choice. So now there are fewer spots, more crowded, more expensive due to inflation.
Look maybe I'm salty because my 6 year old has a nasty cold and is home today, but tgis post seems off in a number of ways.
The chart is titled "Total Revenue for Child Care Services" and the y-axis runs up to $20,000. Total to whom? Individuals using child care? That would be total spending per-individual no?
To the child care industry? If so, then what are the real units?
The chart shows a significant, multi-year reduction in total revenue.
The chart makes no attempt to analyze the labor availability and labor cost factors for the industry. These were key data points in all coverage of the 'covid childcare crisis'.
Kevins only contribution is a simple declaration of his opinion.
Lazy post.
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Looks pretty in distress to me.