Mothers are leaving the job in America; getting expensive to keep a nanny
It is expensive to keep a nanny in America, Mothers are leaving the job: The annual expenditure for keeping a nanny is Rs 36 lakh
Income has become so expensive in America that women have to leave their jobs to take care of the children. Many women could not return to work even after the pandemic was over.
In fact, suddenly there was a shortage of 80,000 trained aayas (nannies). Companies took advantage of this and opened childcare centers in urban areas of America, especially in areas where economically prosperous people live. Here they are charging more than the college fees.
Child care expert Elliot Hospital at insurance company Capita says – Child care is now becoming a luxury in America. The middle class is not able to bear the expenses, while they are the ones who need it the most. Because usually both husband and wife work. New childcare centers are not being opened in villages and on the outskirts of the city. At present, 1.20 crore children in the age group of 1 to 5 years in America need a babysitter. But, childcare companies are taking care of only one million children from affluent families.
Companies such as Bright Horizons, Lightbridge Academy, Goddard Systems and Primrose Schools have next year's earnings targets 15-20% higher than this year's, says Cathy Ligon, a consultant surveying childcare companies. Obviously, child care will be more expensive now. Whereas, traditional community child care centers had low-profit margins. That's why they were accessible to the lower and middle classes as well.
According to investment company Goldman Sachs, there is immense profit potential in this sector. That's why investment is continuously increasing. Community child care centers are not able to run due to the non-availability of aya. Because big companies are hiring by paying more salaries. The average salary of an aya in community centers was up to Rs 1200 per hour.
The government knows that child care in America has become expensive after Corona. That's why President Joe Biden came up with the Build Back Better Bill. But, childcare companies did not allow this bill to become law by forming a lobby. According to this bill, the cost of child care was fixed according to the family income.