by Ryan Streeter on August 19, 2014. Follow Ryan on Twitter.
This chart says a lot about how things have changed in the past couple generations:
The share families spend on child care and education for their children has grown from 2% in 1960 to 18% in 2013. Today it accounts for more than any other expense category except housing.
Food, clothing and transportation have together decreased by nearly the same amount that child care and education have increased. As the marketplace has figured out how to bring down the cost of food and clothes, families have changed and figured out that education and child care are essential to success in the marketplace.
There’s a lot to unpack in that dynamic.
This is from a post by Niraj Chokshi at GovBeat.