The rising cost of daycare is outpacing inflation, according to a new report.
Why it matters: Climbing child care costs put a huge financial strain on families, forcing some parents — typically women — to either ratchet back their working hours or leave the labor force entirely, writes Axios' Emily Peck.
Zoom in: In California, the average annual cost of daycare tuition for two children — one toddler and one infant — was about $39,200 last year, per 2024 data from the advocacy group Child Care Aware.