$2.41 billion. That’s how much employee absence and turnover due to child care issues cost Maryland employers in 2016. $2.34 billion per year is lost to lower wages, lower spending and fewer tax revenues due to Maryland parents who forgo additional education because of child care disruptions. Maryland’s economy lost out on a whopping $117 million of tax revenue because of child care breakdowns. This data is from Maryland Family Network’s new report, Counting Our Losses: The Hidden Cost to Marylanders of an Inadequate Child Care System.
Hear from Margaret Williams, Executive Director of the Maryland Family Network, who will present the results of the study and discusses what Maryland businesses can do to save the bottom line and save the futures of Maryland’s youngest children.
The challenge of finding safe and affordable child care, as well as life’s unavoidable events, such as a sick child or weather-related issues, account for these billions in lost dollars, lost productivity and lost opportunity for Maryland. These are particularly tragic losses given the irrefutable evidence of the importance of early care and education for its social, emotional and intellectual benefits to children and its ROI to society. Investing in solutions to child care problems that working families face more than pays for itself.
Counting Our Losses asked Maryland parents with children ages five and under who worked in the last year questions about child care issues and how these issues affected their work. This is the first report of its kind about Maryland working parents of very young children and how child care impacts employers and the economy.
When: Friday, May 18, 2018; 7:30 a.m. registration, 8 a.m. program
Where: Greater Baltimore Committee, 111 South Calvert Street, Suite 1700, Baltimore, MD 21202
Cost: $35 members, $50 non-members
A 72-hour cancellation notice is required for refund.
For event and sponsorship information, contact Sophia Silbergeld, Director of Membership and Member Relations, at 410-727-2820.