Childcare costs are rising worldwide - and businesses are paying a high price for it. The burden is disproportionately high on women, who generally have to take on the majority of child care.
Given the choice of working solely to afford child care, many women choose to reduce their working hours, forego promotions, or leave the workforce altogether. In the United States, an estimated $237 billion is lost each year because women reduce their workload to care for children. Americans are currently paying the most for child care as a percentage of income.