For a working parent, it is tough to juggle work and raise a family.
The situation is same around the world. The United States is not different but it has its unique challenges for working parents with a particular focus on childcare, said Kirstie McDermott in an article published in The Hill.
The high cost of childcare is a major hurdle for working parents in the US. The undue pressure pushes many mothers out of the workforce.
According to the Department of Health and Human Services, affordable childcare shouldn't exceed 7% of household income, according to the US Department of Health and Human Services (HHS) . But the reality is far bleaker, with a recent survey showing families spend an average of 24%.
Economies around the world are facing rising costs across the board.
The financial strain forces over a third of parents to dip into savings just to cover childcare. The situation is expected to worsen as pandemic childcare support has ended.
The financial burden isn't the only consequence. A 2022 Ohio State University study found that a staggering 66% of working parents in the US experience parental burnout that impacts their work performance.
The lack of paid leave exacerbates this issue, with 73% of private-sector workers having no access to it, according to the Bureau of Labor Statistics. These challenges are leading more mothers to leave the workforce.
A study by Mother.ly found a rise in stay-at-home mothers from 15% in 2022 to 24% in 2023. Fathers are also increasingly taking on this role, with Pew Research Center reporting an uptick from 11% in 1989 to 18% in 2023.
The issue can be tackled with solutions like affordable childcare and flexible work arrangements, with tangible benefits like paid leave, healthcare, and retirement contributions to attract and retain working parents, particularly mothers.