What's Happening?
Missouri is experiencing a significant drop in women's workforce participation, which experts describe as an economic red alert. Since January, over 200,000 women have left the labor force, primarily due to reduced workplace flexibility and limited child care access. Misty Heggeness from the University of Kansas highlights that labor force participation for women aged 25-44 with children under five has decreased from 69.7% to 66.9%. The caregiving crisis spans both child care and elder care, affecting women disproportionately. A report by AARP and the National Alliance for Caregiving indicates that 63 million Americans are providing ongoing care for adults or children with complex medical conditions, a 45% increase since 2015.
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Why It's Important?
The decline in women's workforce participation has significant implications for the economy. Women have been crucial in driving growth in prime-age labor force participation, contributing billions to GDP. The McKinsey Global Institute estimates that advancing women's equality could add trillions to global GDP. The caregiving crisis not only affects women but also impacts economic activity, with states losing an average of $1 billion annually due to child care access issues. Addressing these challenges is vital for economic stability and growth, as the economy is essentially sidelining half of its talent.
What's Next?
Efforts are underway to address the caregiving crisis. In Kansas, bipartisan initiatives under Governor Laura Kelly aim to increase child care slots significantly. Missouri is working on legislation to help businesses offset child care costs, with bipartisan support. A commission appointed by Governor Mike Kehoe is developing recommendations to streamline regulations for child care providers. At the federal level, the recent tax bill has tripled the employer-provided child care credit, incentivizing businesses to support working parents. Parallel actions for elder care are emerging, including caregiver tax credits and support services.
Beyond the Headlines
The caregiving crisis highlights broader societal issues, including gender equality and economic participation. As the 105th anniversary of the 19th Amendment approaches, there is a call for policymakers and employers to remove barriers to women's full economic participation. Historical figures like suffragist J. Ellen Foster emphasized women's role in democracy and economic growth, a promise that women have fulfilled. The current situation demands action to ensure women can continue contributing to the economy.
