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Financial Consequences of Orange County’s Childcare Shortage Exceed $4 Billion
A shortage of childcare agencies in Orange County, Calif. has resulted in a loss of more than $4 billion annually in lost production and wages, officials say.
Childcare advocates said more than 67,000 jobs are lost every year in Orange County, and $372 million is lost in tax revenue, due to a lack of childcare options.
“These dire economic impacts combined with the difficult personal decisions the crisis forces are a flashing red light for Orange County’s financial health and future prosperity,” Kimberly Goll, executive officer of First 5 Orange County, said in a statement. “Our childcare crisis is taking a massive toll not just on local businesses’ workforces, but on the tens of thousands of families who are impacted by childcare challenges.”