Article Link: http://exchangepress.com/article/thirty-third-annual-status-report-on-for-profit-child-care/5025162/
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Child care providers across the United States are enjoying the current climate of low unemployment—the lowest rate in nearly five decades. Plentiful jobs and working parents mean high enrollment and demand for child care services. But while optimism is high for an increase in demand, with providers planning for continued growth, more people joining the labor force also creates the challenge of attracting and retaining teachers. To offset this challenge, the industry needs to develop more creative strategies to improve support—both financially and non-financially—for personnel inside each school.
Alongside the staffing challenge, there are concerns that the public school system and universal pre-K initiatives could diminish demand by pre-K students for private educational entities. Fortunately, the industry looks to be working on several collaborative and competitive strategies to help withstand this trend.
Forecast for Child Care Services
Child care providers are optimistic about the future and expect that demand will either remain stable or increase moderately in the next twelve months and will increase moderately in the next three years. The majority of respondents to our survey reported that they expect continued growth in this strong market climate—employing ...