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☆ Newly jobless hurricane survivors would exhaust aid sooner without Disaster Unemployment Assistance
▼ + stars: | 2024-10-21 | by ( Tami Luhby | ) edition.cnn.com time to read: +7 min

Currently, the jobless in North Carolina can only receive up to 12 weeks of state unemployment benefits, among the skimpiest in the nation. (Applicants must first exhaust their state unemployment benefits.) Plus, disaster jobless benefits are available to many types of workers who don’t qualify for state unemployment insurance, such as gig workers, farmers and the self-employed. Still, it can be difficult for the newly jobless to secure either state or disaster unemployment benefits, particularly those whose homes and businesses have been heavily damaged or destroyed by storms. It took Miranda Escalante five days to apply for unemployment assistance.

Persons: Jen Hampton, Helene, Asheville’s, Hampton, we’re, ”, “ We’re, ” Michele Evermore, Roy Cooper, Miranda Escalante, Hurricane Helene, Escalante, Alex Smith, we’ll, ” Escalante, Evermore, — Asheville’s, “ Organizations: CNN, Asheville Food, Beverage United, “, Unemployment, The Century Foundation, state’s, Employment Security, Gov, Emergency Management Agency, Center, Budget, US Bureau of Labor Statistics, Asheville Locations: North Carolina, ”, Florida, Georgia, North Carolina’s, Asheville

☆ The unemployment insurance program is unprepared for a recession, experts say
▼ + stars: | 2024-08-09 | by ( Greg Iacurci | ) www.cnbc.com time to read: +4 min

However, the system that workers rely on to collect unemployment benefits is at risk of buckling — as it did during the Covid-19 pandemic — if there's another economic downturn, experts say. Unemployment insurance provides temporary income support to laid-off workers, thereby helping prop up consumer spending and the broader U.S. economy during downturns. There's also wide variation among states — which administer the programs — relative to factors like benefit amount, duration and eligibility, according to the report, authored by more than two dozen unemployment insurance experts. Why the unemployment insurance program buckledJoblessness ballooned in the pandemic's early days. Claims for unemployment benefits peaked at more than 6 million in early April 2020, up from roughly 200,000 a week before the pandemic.

Persons: Joe Raedle, Michele Evermore, There's, Andrew Stettner, NASI, Stettner, haven't, Indivar Dutta, Gupta Organizations: Getty, The Century Foundation, U.S . Labor Department's, National Academy of Social Insurance, Labor, Labor Department, Roosevelt Institute Locations: Florida, Sunrise , Florida, U.S

Michael Bloomberg’s organization Bloomberg Philanthropies is announcing a $600 million gift to the endowments of four historically Black medical schools. Xavier University of Louisiana, which is opening a new medical school, will also receive a $5 million grant. The donations will more than double the size of three of the medical schools’ endowments, Bloomberg Philanthropies said. The four historically Black medical schools are still deciding with Bloomberg Philanthropies how the latest gifts to their endowments will be used, said Garnesha Ezediaro, who leads Bloomberg Philanthropies’ Greenwood Initiative. Dr. Yolanda Lawson, president of the National Medical Association, said she felt “relief,” when she heard about the gifts to the four medical schools.

Persons: Michael Bloomberg’s, Bloomberg Philanthropies, ” Bloomberg, Charles Drew, Garnesha Ezediaro, Ezediaro, ” Ezediaro, Valerie Montgomery Rice, we’ve, ”, Ronda Stryker, William Johnston, Denise Smith, Spelman, Smith, MacKenzie Scott’s, ” Smith, Yolanda Lawson, Utibe Organizations: Bloomberg, New, New York City, National Medical Association, Associated Press, Howard University College of Medicine, Meharry Medical College, Morehouse School of Medicine, Charles, Charles Drew University of Medicine & Science, Xavier University of Louisiana, Johns Hopkins University, Greenwood Initiative, Democratic, United Negro College Fund, Spelman College, Greenleaf Trust, The Century Foundation, David Geffen School of Medicine, UCLA, NBC Locations: New York, Tulsa , Oklahoma, Atlanta, Ronda

☆ Bloomberg gives $600 million to 4 Black medical schools’ endowments
▼ + stars: | 2024-08-06 | by ( Associated Press | ) edition.cnn.com time to read: +6 min

NEW YORK AP —Michael Bloomberg’s organization Bloomberg Philanthropies is announcing a $600 million gift to the endowments of four historically Black medical schools. Xavier University of Louisiana, which is opening a new medical school, will also receive a $5 million grant. The donations will more than double the size of three of the medical schools’ endowments, Bloomberg Philanthropies said. The four historically Black medical schools are still deciding with Bloomberg Philanthropies how the latest gifts to their endowments will be used, said Garnesha Ezediaro, who leads Bloomberg Philanthropies’ Greenwood Initiative. Dr. Yolanda Lawson, president of the National Medical Association, said she felt “relief,” when she heard about the gifts to the four medical schools.

Persons: Michael Bloomberg’s, Bloomberg Philanthropies, ” Bloomberg, Charles Drew, Garnesha Ezediaro, Ezediaro, ” Ezediaro, Valerie Montgomery Rice, we’ve, ”, Ronda Stryker, William Johnston, Denise Smith, Spelman, Smith, MacKenzie Scott’s, ” Smith, Yolanda Lawson, Utibe Organizations: Bloomberg, New, New York City, National Medical Association, Associated Press, Howard University College of Medicine, Meharry Medical College, Morehouse School of Medicine, Charles, Charles Drew University of Medicine & Science, Xavier University of Louisiana, Johns Hopkins University, Greenwood Initiative, Democratic, United Negro College Fund, Spelman College, Greenleaf Trust, The Century Foundation, David Geffen School of Medicine, UCLA Locations: New York, Tulsa , Oklahoma, Atlanta, Ronda

☆ ‘Just too burnt out’: Child care crisis crunches providers
▼ + stars: | 2024-06-15 | by ( Meena Duerson | Tami Luhby | ) edition.cnn.com time to read: +7 min

Nationwide, the average yearly cost of care rose to $11,582 per child last year, according to Child Care Aware of America’s latest annual report. The basic costs of employing enough staff to comply with legal and safety requirements in child care centers are already high. The typical hourly wage for a child care worker in Wisconsin is $13.78, according to the US Bureau of Labor Statistics. Facing a “child care cliff”The historic $24 billion federal investment helped more than 225,000 providers nationwide — or more than 8 in 10 licensed child care centers — and affected as many as 10 million children. My First Adventure Child Care and Preschool serves 60 families but will close this summer.

Persons: Susan Elandt, ” Elandt, I’m, “ It’s, “, Elandt, what’s, ”, Lydia Higgins, Higgins, ” Higgins, she’s Organizations: CNN, Nationwide, of Columbia, US Bureau of Labor Statistics, The Century Foundation Locations: Waupaca , Wisconsin, Wisconsin, Waupaca

☆ Average annual child care costs twice as much as rent in 11 states and the District of Columbia
▼ + stars: | 2024-05-15 | by ( Tami Luhby | ) edition.cnn.com time to read: +3 min

CNN —If you think the rent is too damn high, wait until you get the bill for child care. And the tab exceeded annual typical mortgage payments in 45 states, plus the District of Columbia, according to Child Care Aware. Nationwide, the average annual cost of care rose to $11,582 per child last year, up 3.7% from the prior year. Further exacerbating the shortage was the continued disappearance of licensed child care providers who operate out of their homes. Also, another $15 billion federal pandemic infusion for child care and development block grants, which states use to subsidize child care for working families, will expire this coming September.

Persons: that’s, Sandra Bishop, ”, Anne Hedgepeth Organizations: CNN, District of Columbia, of Columbia, Care, Nationwide, US Department of Health, Human Services, Care Aware’s, Century Foundation Locations: Illinois , Indiana , Iowa , Kansas , Massachusetts, Minnesota , Nebraska , Pennsylvania, Rhode Island , Vermont, Wisconsin

☆ Unemployment benefits, emergency savings. Here's how to get by without a paycheck after a job loss
▼ + stars: | 2024-02-26 | by ( Annie Nova | ) www.cnbc.com time to read: +3 min

"Job loss is extremely traumatic, but it is important to remember that it is not the end of the world," said Michele Evermore, a senior fellow at The Century Foundation. The average weekly benefit ranges greatly between states, Evermore said. Job loss is extremely traumatic. Michele Evermore a senior fellow at The Century FoundationWhether or not the package affects your unemployment benefits depends on your state's rules, Evermore said. Strategize which savings to tap, in what orderHopefully you have an emergency savings fund to draw from, Curtis said.

Persons: Michele Evermore, Evermore, you've, Carolyn McClanahan, McClanahan, Curtis Organizations: Google, Microsoft, Paramount, CNBC, The Century Foundation, The Century, Employment Security Department, Planning Partners, CNBC's Locations: New York, Washington, Jacksonville , Florida

☆ Child care benefits at work: Employers are increasingly offering resources to parents with daycare needs
▼ + stars: | 2024-02-23 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +7 min

And among those that do, less than a third selected any single benefit such as subsidized child care services (11%), child care referrals and consultations (28%); and back up child care (26%), which gives parents access to a daycare center or babysitter when their usual child care arrangements fall through on a given day. Among those, 37% offer access to backup child care, 16% subsidize child care and 10% provide onsite child care. Among respondents who said they were thinking of quitting their jobs, 41% said their compensation was not high enough to cover child care costs, and 30% said they didn’t have adequate child care. An onsite child care center like one from Bright Horizons can provide licensed and trained care providers and well-qualified early education teachers. Other options to ease working parents’ experienceFor many employers, though, an onsite child care center may be tough to swing.

Persons: ”, Jessica Chang, “ Covid, ” Chang, Mercer, It’s, We’ve, Stephen Kraemer, Kraemer, hadn’t, Carmen Perez, Perez, Seda, Chang Organizations: New, New York CNN, US Department of Labor, US Department of Health, Human Services, Century Foundation, “ Employers, Adecco Group, Bright Locations: New York, United States, California

☆ Worried about or facing a layoff? What to know about unemployment benefits
▼ + stars: | 2023-11-22 | by ( Annie Nova | ) www.cnbc.com time to read: +3 min

Yet not all cases are so clear cut, and many people prematurely exclude themselves from the program, Evermore said. watch nowUnemployment programs vary by state, but in some places, people can get the benefits even if they've quit. "As soon as you leave your job, you should be on your way to the unemployment insurance office," Evermore said. Apply with your state unemployment office. Assess program requirementsTo receive unemployment benefits, you have to be able to work and actively be seeking new employment, Evermore said.

Persons: Bill Varie, Michele Evermore, Evermore, they've, you'll, I'd Organizations: Bank, Getty, The Century Foundation, CNBC

☆ Why Invading Gaza Is a Mistake - The New York Times
▼ + stars: | 2023-10-17 | by ( Farah Stockman | ) www.nytimes.com time to read: +3 min

That military operation against Hezbollah was seen as a success — so punishing that it bought 17 years of relative quiet. But it also nurtured resentments that could help turn an invasion of Gaza into a wider regional war. Hamas appears to want to lure Israelis into Gaza and has been preparing for this battle for years. Israel’s military is not a paper tiger; it is one of the most technologically sophisticated militaries in the world. Without power, many Gazans will lose the ability to pump water from wells or treat the wounded in hospitals.

Persons: Hassan Nasrallah, Hossein Amir Abdollahian, ”, Thanassis Cambanis, overreach, we’d, Israel Katz, — Israel, Israel Organizations: The Times Locations: Gaza, Iran, Israel, United States, Afghanistan, Gaza —

☆ A childcare center founder explains what she learned after 3 decades and why it's so hard to make the business work
▼ + stars: | 2023-10-15 | by ( Madison Hoff | ) www.businessinsider.com time to read: +7 min

After three decades, Julie Clark recently sold CAST Preschool and Childcare Center in Connecticut. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementAdvertisementJulie Clark, the cofounder of the CAST Preschool and Childcare Center in Woodbury, Connecticut, said her "goal was really to form a community, not just a school." After more than 30 years, Clark sold her childcare center this past summer. It's hard for centers to find staffSome teachers had worked for CAST Preschool and Childcare Center for at least 15 years.

Persons: Julie Clark, Clark, could've, —, I've, Allison Robinson, Robinson, We've, Julie Kashen Organizations: CAST, Service, Department of Labor, The Century Foundation, Labor Statistics Locations: Connecticut, Woodbury , Connecticut

☆ What workers on strike need to know about collecting unemployment benefits
▼ + stars: | 2023-10-10 | by ( Annie Nova | ) www.cnbc.com time to read: +4 min

Massachusetts, Connecticut and Pennsylvania have recently tried to start providing striking workers jobless benefits, too. Here's what else workers on strike should know about unemployment benefits. Workers on strike in the Empire State can typically collect the benefits for as long as 26 weeks. Workers on strike in New Jersey may also qualify for unemployment benefits, and lawmakers recently shortened the waiting time for eligibility there, too, to 14 days, down from 30. Workers in the state can usually collect unemployment benefits for up to 26 weeks.

Persons: Frederic J, Brown, Gavin Newsom, Michele Evermore, haven't, Evermore, Rob Sampson, Johnnie Kallas, Phil Murphy Organizations: Kaiser Permanente, AFP, Getty, The Century Foundation, United Auto Workers, Bloomberg, Republican, Cornell University's School of Industrial and Labor Relations, Labor, New York, Workers, New York State Department of Labor, New, New Jersey Gov Locations: Los Angeles, , New York, New Jersey, California, Massachusetts , Connecticut, Pennsylvania, Wayne , Michigan, Connecticut, New York , New Jersey

☆ The bad math behind Harvard's refusal to do away with legacy admissions
▼ + stars: | 2023-10-09 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +14 min

By clinging to legacy admissions, colleges are not only undermining claims of advancing equality but may be shooting themselves in the financial foot. 'A weak and sad excuse'The legacy preference has always been a dance of public intentions and private subtext. While the rationales for preserving legacy admissions have evolved, the propensity to obfuscate them hasn't. Harvard's massive $50 billion endowment makes it pretty clear: the school doesn't need to keep legacy admissions anymore. When Wesleyan announced it was dropping legacy admissions Roth was adamant that it was the right move.

Persons: James Murphy, —, Richard Kahlenberg, Christopher Eisgruber, Ethan Poskanzer, Radcliffe, gosh, James Hankins, Murphy, Brooks Kraft, Amherst, Biddy Martin, Gabrielle Starr, Michael Roth, Wesleyan alums, Brown, MIT's Emilio Castilla, Kahlenberg, Harvard, Roth Organizations: US Supreme, Harvard, Department of Education, Georgetown University, Princeton University's, Washington Post, University of Colorado, Wall, Princeton, Getty, MIT, University of Texas, The Century Foundation, Pomona College, CNN, Research, Council, Advancement, Wesleyan College, Wesleyan, Ivy League, Stanford, Duke, University of Chicago, Poskanzer, University of North, Carnegie Mellon, Occidental College Locations: Boulder, University of North Carolina, America

☆ US economy added 336,000 jobs last month, almost twice what was expected
▼ + stars: | 2023-10-06 | by ( Alicia Wallace | ) edition.cnn.com time to read: +8 min

The US economy added an estimated 336,000 jobs last month, blowing expectations out of the water, according to Bureau of Labor Statistics data released Friday. In September, leisure and hospitality helped drive job growth higher, with 96,000 jobs added. Today’s headline jobs number — that surprising 336,000 net job gain — is an initial estimate that will be revised twice more. The surprising September jobs report, however, didn’t continue that streak. August’s second look has job growth now at 227,000 for the month, an increase of 40,000.

Persons: ”, Sung, Soh, Joe Biden, “, it’s, ” Biden, Andrew Patterson, ” Patterson, they’ve, Jim McCoy, we’re, ” Daniel Zhao, Glassdoor’s, ” Julia Pollak, didn’t, ” Diane Swonk, — CNN’s Tami Luhby Organizations: Minneapolis CNN, of Labor Statistics, Loyola Marymount University, SS Economics, BLS, Federal Reserve, Dow, Nasdaq, Bureau of Labor Statistics, Vanguard, Fed, Administration, Children, Families, Nationwide, Century, CNN Locations: Minneapolis, United States

After two years of receiving federal subsidies, 220,000 child care programs across the country were cut off from funding Saturday. The largest investment in child care in U.S. history, the monthly payments ranged from hundreds to tens of thousands of dollars, and stabilized the industry during the COVID-19 pandemic. She said taxpayers will end up paying more in the long run to welfare programs if the government doesn't make investments now in child care. There are just two child care centers in the entire county, and the community can't afford to lose either one, she said. If West Virginia wants to grow its economy, child care is part the infrastructure necessary for that to happen, Tiffany Gale said.

Persons: WILLIAMSON, W.Va, — Kaitlyn Adkins, wouldn’t, ” Adkins, Adkins, Williamson, she's, ”, Jackie Branch, didn't, Goldie Huff, They’ve, Branch, Melissa Colagrosso, “, Tiffany Gale, she’s, Gale, Gale doesn’t, she'll, —, “ They’re Organizations: Century Foundation, Washington , D.C, D.C, Democratic, Child Care, American, U.S . Bureau of Labor, Children’s, West Virginia’s Department of Health, Human Resources, — Locations: West Virginia, Washington ,, — Arkansas, Montana , Utah, Virginia, Washington, Williamson , West Virginia, Mingo County, U.S, Williamson, Fayetteville , West Virginia, West Virginia's

Some childcare operators told Insider the end of pandemic-era funding could make the problem worse. To keep the doors open at her Southampton Township, New Jersey, childcare center, she needs to find new clients or new funding. Jackson is just one of many providers across the US entering a period of uncertainty after a pandemic-era infusion of federal childcare funding ran out at the end of last month. That funding expired on Saturday, along with $13.5 billion in childcare funding from other pandemic-era legislation. She added: "What we're likely to see is childcare providers doing everything they can to continue to operate.

Persons: —, Jackson, Patti Smith, Joe Biden's, they'd, Allyx Schiavone, Lauren Bauer, Molly Kinder, Julie Kashen, Kashen, Schiavone, Cristi Carman, they're, Carman, Shannon Hampson, Hampson, we're, Rep, Katherine Clark, Julia Pollak, ZipRecruiter, there's, Grant Organizations: Service, Greenway, National Association for, Education of Young Children, Rescue, Friends Center for Children, American Progress, Brookings Institution, The Century Foundation, Care, American Locations: Southampton Township , New Jersey, Maryland, Lincoln , Nebraska

☆ Why paying off your student loans won't get easier anytime soon
▼ + stars: | 2023-10-02 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +14 min

Student-loan borrowers are entering uncharted territoryThe Education Department has never had to reenter 28 million people into payments at the same time. Plus, federal servicers' technology may not be up to the task. In contrast, federal student-loan servicing has been contracted out to five companies, and the government doesn't have the resources to fully keep tabs on the industry. "So there really were deep-rooted structural problems in the loan programs on the policy design but also on the execution side," Kvaal said. As the years went on, the GAO continued to identify flaws in student-loan programs that were hurting borrowers.

Persons: Greg Ogden, Ogden, I've, servicer, he's, he'd, We're, Sen, Elizabeth Warren, James Kvaal, —, Kvaal, Barack Obama's, Obamacare, servicers, Scott Buchanan, servicers —, servicer MOHELA, MOHELA, Biden, Virginia Foxx, she's, Cardona, it's, Foxx, Carolyn Fast, Joe Biden's, Buchanan, Warren, Pamela Herd, Herd, Melissa Emrey, that's, Miguel Cardona, we're Organizations: Public, Education Department, Department, Student Loan, —, GOP, The Century Foundation, Federal Student Aid, Georgetown University, Medicare, Student Aid, Office, Biden, Social, Education, Consumer Financial, Emrey, Federal, Aid Locations: servicers, Arras

☆ US poor face economic hit as shutdown, childcare cliff, student loans converge
▼ + stars: | 2023-09-29 | by ( Andrea Shalal | ) www.reuters.com time to read: +6 min

A separate benefits program, Supplemental Nutrition Assistance Program (SNAP), will continue as normal for the month of October but could be affected afterward, officials say. U.S. officals say Small Business Administration loans may be delayed and up to 10,000 children could lose access to Head Start, the federal program for preschool children from low-income families. The AFL-CIO estimates that more than 3 million children will lose access to quality childcare and thousands of providers will be forced to close, lay off childcare workers or reduce slots for children. STUDENT LOAN DEBT REPAYMENTSA three-year moratorium on student loan repayments ends on Oct. 1 after the U.S. Supreme Court in June blocked the Biden administration's plan to cancel $430 billion in student loan debt for 43 million borrowers. Student loan repayment resumption "will be more challenging for the lowest-income groups," Bank of America said in a recent research report, because they saved less during the moratorium than higher-income groups.

Persons: Sarah Silbiger, Joe Biden, Biden, Patty Murray, Rosa DeLauro, Liz Pagel, Andrea Shalal, Heather Timmons, Timothy Gardner Organizations: U.S, Russell Senate, REUTERS, Rights, Republican, American Federation of Government Employees, SNAP, Women, Assistance, Democratic, AFL, Century Foundation, Supreme, Student, Protection, Bank of America, Thomson Locations: Russell, Washington , U.S, TransUnion

☆ Why the end of federal child care funding matters — whether or not you have young kids
▼ + stars: | 2023-09-28 | by ( Erik Ortiz | ) www.cnbc.com time to read: +7 min

"It's going to be a child care apocalypse," she said. "If someone came to me today and said they wanted to open up a child care center, I'd say, 'Don't do it.' That amounts to about 3.2 million children losing child care. In June, the GOP-controlled Legislature in Wisconsin voted to end its Child Care Counts subsidy program, with funding to help child care providers expected to be exhausted by February. On the federal level, Democratic members of Congress have introduced bills this year to expand federal subsidies for child care providers and create federally funded, but locally run, child care centers.

Persons: Rossignol, shouldering, Julie Kashen, Kashen, Cathy Creighton, Creighton, Jade Lebel, Lebel, It's, Kat Brockschmidt, Rawasia Organizations: The Century Foundation, GOP, Republican, Democratic, Cornell University's School of Industrial and Labor Relations Buffalo Co, Employers Locations: Maine, Alaska , California, Minnesota, New York, Wisconsin, U.S, Montgomery County , Maryland

☆ Hot girl summer is about to come to a crashing halt, and winter is coming for women
▼ + stars: | 2023-09-19 | by ( Emily Canal | ) www.businessinsider.com time to read: +4 min

This year's hot girl summer was led by the women who propped up the US economy. The aid has been funding childcare for the past two years, which helps keep many moms working. The study polled 3,661 women and 1,144 men between November 19, 2020, and December 17, 2020. Simultaneously, if childcare centers closed, working women would bear the brunt — in a 2020 report, the National Women's Law Center found that 95% of childcare workers were women . AdvertisementAdvertisementParents, experts, and lawmakers have previously told Insider how vital childcare is to working parents.

Persons: Taylor Swift, Barbie, Christopher Nolan's, Oppenheimer, doesn't, Annie E, Lisa Hamilton, who've, Sen, Patty Murray Organizations: Service, Bloomberg, of Labor Statistics, American, Century Foundation, Labor Department, Family Foundation, National Women's Law Center, Casey Foundation Locations: Wall, Silicon, America, it's

☆ Millions of parents to face child care dilemma if federal assistance ends this month
▼ + stars: | 2023-09-18 | by ( Emily Wilkins | ) www.cnbc.com time to read: +1 min

Proctor is one of millions of families that have had help paying for child care thanks to $24 billion in pandemic-era funding Congress passed in 2021. Without the scholarship, I don't think he will be in day care. While most business affected by the pandemic have bounced back, child care hasn't. An estimated 65,000 child care jobs have been lost between February 2020 and August 2023, according to the Bureau of Labor Statistics. The Century Foundation estimates 70,000 day care centers will close without the funding, leading to a subsequent $10.6 billion in lost tax and business revenue.

Persons: — It's, Ashleigh Proctor, Ahmad, who's, Proctor, she's, that's, hasn't Organizations: Greenway Learning, Century Foundation, CNBC, Bureau of Labor Statistics, Century Locations: Md, U.S

☆ A looming childcare cliff could cost families $9 billion in earnings and leave millions of kids without care. Democratic lawmakers want to avoid a crisis.
▼ + stars: | 2023-09-13 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +4 min

The Child Care Stabilization Act would allocate $16 billion to childcare annually for five years to aid providers. At the same time, childcare workers are facing low pay and tough conditions; they have previously told Insider that the industry needs even more subsidizing. AdvertisementAdvertisement"It is the thing that we pay the most money for," she previously told Insider . She's not alone: Other parents have told Insider that high costs for scarce childcare have led them to drop out of the workforce completely. AdvertisementAdvertisement"Right now we have a childcare crisis with ARPA funding," Rep. Jimmy Gomez of California, a member of the Congressional Dads Caucus , said.

Persons: Joe Biden's, Sen, Patty Murray, Katherine Clark, Paige Connell, She's, Kaitlin Peterson, Jimmy Gomez Organizations: Rescue, Service, Democratic, Century Foundation, unsustainably, Department of Labor, ARPA, Congressional, Caucus Locations: Wall, Silicon, Washington, Massachusetts, Denver, Jimmy Gomez of California

☆ The typical NYC family is spending more than 25% of its income on childcare — triple what's deemed affordable
▼ + stars: | 2023-09-12 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +4 min

New York City families are spending over a quarter of their income on childcare. The typical New York City family is spending over 25% of its income to pay for the childcare of just one kid, according to data from the Department of Labor . For its New York City childcare expenses to meet the federal standard for affordability, a family would need to earn roughly $300,000 per year. AdvertisementAdvertisementCindy Lehnhoff, director of the National Child Care Association, previously told Insider that more funding — not changing ratios — is what's necessary to resolve the national crisis. Are you struggling to afford childcare or finding creative solutions?

Persons: Robin Hood, Taryn Morrissey, Cindy Lehnhoff, Lehnhoff Organizations: Service, Department of Labor, New, Robin Hood Foundation, American, Century Foundation, American University, National Child Care Association Locations: York City, Wall, Silicon, New York City, New, Kansas

WASHINGTON (AP) — Democrats in Congress are pushing for a new round of money to keep the nation’s child care industry afloat, saying thousands of programs are at risk of closing when federal pandemic relief runs out this month. Without a new lifeline, child care programs serving millions of families could close or increase prices. A June report from The Century Foundation found that without additional money, about 70,000 child care programs would probably have to shut down after this month. The average annual price for U.S. child care in 2022 was $10,800 per child, according to Child Care Aware of America, a nonprofit advocacy group. President Joe Biden has called for expanded child care support, but his biggest proposal stalled amid a polarized Congress and Democratic infighting.

Persons: ”, Sen, Patty Murray, Bernie Sanders of, Catherine Clark of, Cynthia Davis, Davis, “, Joe Biden, Clark Organizations: WASHINGTON, —, American, Republican, Bernie Sanders of Vermont, The Century Foundation, D.C, Department of Health, Human Services, Century Foundation, Democratic, Democratic holdouts, Congress, Associated Press, Foundation, AP Locations: Catherine Clark of Massachusetts, . Arkansas , Montana , Utah, Virginia, West Virginia, Washington, Washington ,, America

☆ Student-loan borrowers should be on the lookout for misleading repayment practices that could make them pay 'more than they should,' a federal watchdog says
▼ + stars: | 2023-09-05 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

The CFPB warned student-loan borrowers that their servicers might engage in misleading behavior. On Tuesday, the Consumer Financial Protection Bureau released a blog post outlining what protections and options borrowers have as payments resume. The agency has long been looking into potentially misleading behavior that has put student-loan borrowers at risk. As Insider previously reported, the transition back into repayment will be a significant challenge for borrowers, the Education Department, and student-loan servicers. AdvertisementAdvertisementStill, the Education Department said it remains committed to ensuring borrowers are receiving the best information from their servicers on their options for repayment.

Persons: servicers, CFPB, Rohit Chopra, Joe Biden's, Carolyn Fast Organizations: Service, Consumer Financial, Education Department, The Century Foundation Locations: Wall, Silicon

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