CHERRY HILL, NJ (SBN) —As U.S. companies face historic instability driven by artificial intelligence, automation, and global disruption, a new analysis identifies a proven opportunity to stabilize the workforce: childcare.

New Jersey businesses lose $2.28 billion a year due to childcare disruptions, with more than half the cost borne by the foundational workforce — essential, high-interaction, and shift-based workers who keep New Jersey’s core industries running — and whose roles will persist even as AI is widely adopted.

The findings are from “Investing in Childcare: How U.S. Businesses Can Unlock Up to $70 Billion by Providing Childcare Benefits,” developed with support from McKinsey and Company, which presented both national and New Jersey data at an Executive Business Roundtable of employers, industry associations, and community organizations convened by Moms First and NJBIA. Start Strong NJ’s broader statewide accounting puts the total cost even higher: New Jersey’s childcare crisis costs the state’s economy $5 billion a year in lost wages, reduced business productivity, and foregone tax revenue for important public services.

Childcare is the largest expense for many New Jersey families with young children — greater even than their rent or mortgage.

SBN news director Steve Lubetkin discusses the study findings and recommendations with Molly Day, chief operating officer of MomsFirst.us in the audio interview below.

About the guest

Molly Day

Molly Day serves as Chief Operating Officer at Moms First. In her role as COO, Molly translates vision into strategy across Moms First’s three issue pillars – paid leave, child care, and pay equity – and drives results in their work to galvanize private sector leaders, policymakers, and most importantly, moms. Prior to Moms First, Molly led the campaign Paid Leave for the United States (PL+US) to pass federal paid family and medical leave by 2022 and prior to that, served as Chief Strategy Officer at LIFT, a national nonprofit working to break the cycle of poverty by investing in parents.

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MomsFirst COO Molly Day discusses study recommending investments in child care by NJ employers – SBN Interview