Due to prolonged COVID-19 school closures... "US working parents face increased childcare costs"

Additional Economic Burdens Arise from Childcare Helpers and Online Class Costs... "Reduced Funds for Consumption, Investment, and Savings"
Childcare and Education Issues Emerge as Political Topics... Trump Pressures to Resume In-Person Classes

[Image source=AP Yonhap News]

[Asia Economy Reporter Jeong Hyunjin] Amid the ongoing closures of elementary, middle, and high schools in the United States due to the novel coronavirus infection (COVID-19), working parents with children are facing increased childcare costs, leading to greater financial burdens. As U.S. President Donald Trump pressures for the resumption of in-person schooling, childcare and education issues are emerging as political topics.

On the 15th (local time), The Wall Street Journal (WSJ) reported that as the pandemic prolongs, parents with school-age children are spending more economically on childcare, which is gradually reducing the funds available for consumption, investment, or savings. With the COVID-19 spread not under control in the U.S. and in-person classes not taking place, parents are hiring childcare helpers or paying additional fees for online classes that were not required during regular school attendance. WSJ also explained that some parents are opting for private schools instead of public schools or arranging private tutoring.

In the U.S., the burden of childcare costs had already increased before the pandemic. Even for students attending public schools, the annual cost per student was reported to be $10,000 (approximately 11.9 million KRW). According to the federal Consumer Price Index (CPI), childcare and kindergarten costs have risen at twice the rate of overall inflation since 2000. The spread of COVID-19 has further increased this burden.

WSJ stated, "There is no definitive data on how much parents are spending on childcare during the pandemic," but added, "While U.S. companies have succeeded with remote work, the issue of online education is slowly becoming a disaster."

Misty Heggeness, an economist at the Federal Reserve Bank of Minneapolis, noted that although childcare and its costs during the pandemic may seem incidental, they are actually essential to the economy. She emphasized, "Considering U.S. economic growth, this is the area that should be prioritized first." She suggested that short-term changes could help working parents facing increased childcare burdens. For example, state governments could temporarily relax qualification requirements for childcare-related certifications to allow daycare centers to hire more staff and enable home-based daycare operations.

In the U.S., childcare and education issues are becoming political topics. Joe Biden, the Democratic presidential candidate and former vice president, recently proposed free preschool for children aged 3 to 4 and tax credits related to childcare. Republican senators in the U.S. Senate also proposed providing $15 billion to stabilize the childcare industry as part of the COVID-19 economic stimulus package.

Amid calls for economic support for related industries, President Trump has been pressuring schools closed due to COVID-19 to resume in-person classes. At a COVID-19 briefing held at the White House on the 12th, President Trump stated, "We have to open schools," emphasizing that all school districts nationwide should plan how to resume in-person education as soon as possible. He announced $13 billion in support for elementary and secondary schools and the provision of 125 million reusable masks to facilitate this.

This content was produced with the assistance of AI translation services.