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The Rising Cost of Childcare

The Rising Cost of Childcare

 

It is no secret that it costs a lot of money to bring up children, and with many parents wanting to get back into work for personal growth or to bring money into the household, one of those costs is likely to be childcare.


Research into the cost of childcare, and what the Government are doing to help struggling parents, from Findababysitter.com has uncovered some interesting findings. Each year this research is carried out and a year on year comparison is made so that we can see how things are progressing in this area.


The survey found that 24% of unemployed parents would like to get back into work but are prevented from doing so due to the high cost involved. This is unsurprising when you consider that the average cost of childcare has increased by 19% year on year and by 77% over the last ten years despite wages remaining the same. It is hard to imagine how families could budget for such a large cost and, in turn, allow the parents who want to return to work do just that.


Despite 51% of unemployed parents saying that the Government is not doing enough to help get parents back to work; the number of unemployed parents who are happy with what the Government is doing has risen by 7% over the last year.


The number of 18-24 year old unemployed parents who think that the Government are doing enough to help them increased from 21% to 30% which is the biggest increase across the groups. Stay at home parents are the least impressed with the support that they are being given by the Government with 60% thinking that more support should be given.


It also seems that the more children a parent has, the happier they are with the ways in which the Government are supporting them when it comes to childcare. Although it was also found that the more children a parent has, the less likely it is that they will be able to afford childcare due to costs increasing per child.


The group of unemployed parents who are most keen to get back to work are the 18-24 year olds with 38% of them wanting to rejoin the workforce. However they cannot afford the childcare which would allow them to do this leaving them unable to commit to a job.


On a more positive note, there has been a 7% rise, year on year, in parents who have gone back to work which now stands at 65%. This is great news considering the number of parents that would like this opportunity themselves and hopefully this will continue to rise throughout 2014.


You can read the report by Findababysitter.com here: http://www.findababysitter.com/assets/upload/a4_annual_childcare_report_2014.pdf


By Sasha Davison

 

13th January 2014


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