Strong childcare systems are seen as vital for enabling parents to work and supporting economic growth, but many families in New Jersey face high costs that make childcare unaffordable. This issue was discussed during a recent episode of “Think Tank with Steve Adubato,” which featured Michele Siekerka, President & CEO of the New Jersey Business and Industry Association (NJBIA); Meghan Tavormina, Director of Public Policy and Advocacy at the New Jersey Association for the Education of Young Children; and Molly Day, Chief Operating Officer of Moms First.
The panelists agreed that access to safe and affordable childcare is not just a personal matter but an economic concern for the state. Michele Siekerka stated: “The business of childcare is everyone’s business. Let’s start with a sobering statistic: $3.6 billion of lost earnings to productivity and revenue in New Jersey alone because of the fact that we don’t have enough affordable and accessible childcare – a place to safely place our children so our workers can come to work each and every day and be productive.”
Molly Day noted that about 500,000 women have left the workforce entirely due to unaffordable childcare. She added: “We hear from moms every day that they are priced out of childcare.” Day also explained that federal pandemic-era funding for state childcare systems has ended, contributing to ongoing challenges: “We have seen a plateau in the number of childcare centers reopening … and so many closed during the pandemic. We’ve also seen at the same time, childcare continues to outpace inflation and costs going up to now more than $19,000 per child.”
Meghan Tavormina said her organization is collaborating with Start Strong New Jersey to strengthen investment in early childhood education across industries. She emphasized: “We have an opportunity in the first five years of a child’s life to really mold the way that they are going to grow and learn … and when we miss those first five years, we pay for it for the rest of their educational life.”
Tavormina warned about broader consequences if affordability issues persist: “Childcare is very much an economic conversation,” she said. “If we really continue on this path … it’s going to reshape the way that businesses can operate and their productivity.”
The NJBIA represents private-sector employers throughout New Jersey as well as serving as one of the largest statewide employer associations nationally (official website). The association works with businesses, government agencies, and academic institutions while offering advocacy services, practical information, cost-saving benefits (official website), advancing competitive excellence among its members (official website), and is led by Michele Siekerka (official website).
To watch the full 30-minute episode referenced by panelists, viewers are directed online.
