ATLANTA – Post-pandemic child care costs have skyrocketed. It’s not just working-class families struggling with this tab, it’s also couples who are making very good incomes. According to federal data, it’s cheaper in Georgia to send your children to college than to pay for some daycares. 

Red flags are going up everywhere these days about the cost of childcare. It’s becoming an astonishing reality across all economic sectors. According to the Bank of America Institute’s consumer data study, payments for child care are up 32% from pre-pandemic days. Add to that rising interest rates and inflationary costs everywhere, and budgets are not just pinched, they are bare in some spots.  

The Economic Policy Institute breaks down these numbers state by state. In Georgia prices are for a single infant for a year is on the other side of $8,000. Two kids, and we are pushing up toward $20,000. These are averages, so this monthly tab can get a lot higher.

Infant care in Georgia costs than 18% more a year than in-state tuition for a four-year public college. Look at that again. It’s cheaper to send a kid to college.

Still, looking at the numbers from The Economic Policy Institute regarding Georgia. Child care takes up more than 15% of a median family’s income. The US Department of Health and Human Services reports that child care is considered affordable if it doesn’t go over 7% of a family’s income. By this measure, only 16.8% of Georgia families can afford infant care.

And hardest hit by this are women. They are leaving the workforce. They have to. This hurts family incomes. This hurts women and job mobility when they try to re-enter the workforce. This impacts retirement and their salaries down the road. And, it’s overall considered bad for the economy when a chunk of its workforce says “I quit.”

What are some solutions? Talk to your boss about flexible work hours. Maybe go in when your husband is at home. Work from home a few days a week. That is harder than it sounds juggling kids and work, but it reduces gas costs and eating out, too. Take advantage of any pre-taxed savings programs though work. It’s a money saver, too. Find trusted friends who you can nanny share with. These are not long-term solutions but can maybe patch the holes until a solution arises.