An inadequate U.S. child care system is hampering the economy, Treasury says

These factors suggest that child care is a sector that needs government support listed in President Joe Biden’s economic agenda, which would make child care more accessible and provide access to high-quality child care for low- and middle-income children, including universal pre-K , the report said. The industry is characterized by low wages, high employee turnover and a razor-thin profit margin, according to the finance ministry.