There is a growing recognition of how child care is linked to the economic viability of a community. Child care has become one of the major resources supporting the family of the 21st Century. Regulated child care fills an important need for both families and the economy. An interest in creating a high-quality, yet affordable child care system is directly linked to economic and social benefits for the state. When the state's child care demands are met, parents can work, employers can fill jobs, the tax base can grow, and children's needs for nurturance, supervision, socialization and intellectual stimulation are met. It is essential that families be able to access and afford high-quality care for their children.
Child care plays a major role in New Jersey's economy. The child care and early education industry:
The 2006 study, Benefits for All: The Economic Impact of the New Jersey Child Care Industry, provides an in-depth look at how the industry drives economics.
Although the U.S. Department of Health and Human Services recommends that parents spend no more than 10% of their family income on child - New Jersey families often spend more of their income on child care than they do on other expenses, including housing. As revealed in a 2013 study conducted by NJACCRRA on the cost of child care in New Jersey:
Click here for the full report on The High Price of Child Care 2013: A Study Profiling the Cost of Care Within Licensed Centers in New Jersey.