Finance Monthly - May 2023

Research by McKinsey has shown that working parents, those holding down a full-time job, while at the same time juggling family duties are more stressed and anxious than before the onset of the pandemic. Among the more than nine million employees that left the workforce amid The Great Resignation, droves of parents left their jobs in hopes of finding jobs that can offer them better autonomy. It’s not only ongoing workplace trends that caused many working parents to leave their jobs. Onethird of all mothers either left or scaled back work since the start of the COVID-19 pandemic in March 2020 according to research. The notion of women being seen as the primary caregiver in the nuclear family, saw women exit the labor market twice as much as their male counterparts since the start of the pandemic. Unfortunately, the pandemic and migration of workers are only a small tip of the iceberg of why America’s working parents decided to pack up their tools and leave. Among several other reasons, childcare and early childhood development responsibilities are ranked as the most important reasons why working parents quit their jobs. In a KinderCare report, around 18% of surveyed parents were Finance Monthly. Business & Economy 41

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