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The Indicator from Planet Money

How insurance is affecting the cost of childcare

The Indicator from Planet Money

NPR

Business

4.79.5K Ratings

🗓️ 29 July 2024

⏱️ 11 minutes

🧾️ Download transcript

Summary

The childcare industry has been having a tough go of it. It's already expensive; pandemic-era programs have ended; plus there are too few providers. Enter a new challenge: increasing liability insurance premiums. Today, we look at why these premiums are rising for childcare providers, and how they're impacting both businesses and consumers.

Related episodes:
Baby's first market failure (Apple / Spotify)
When Uncle Sam stops paying the childcare bill (Apple / Spotify)

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Transcript

Click on a timestamp to play from that location

0:00.0

NPR.

0:17.8

Hey Robert must be a hot day in New York you are fanning yourself like a Regency era heroin. It has been pretty humid here this July, but I think I finally found something that might be able to cool me down.

0:28.0

Wait, is that a copy of the latest beige book?

0:32.0

Are you, in in fact fanning yourself

0:34.5

with an obscure government document

0:36.5

about the latest economic conditions of the United States?

0:39.4

Let me explain.

0:41.0

I was reading it as we do here every time it's released and it talks about how the

0:45.1

labor market in some states is cooling and how inflation in many sectors is

0:51.1

mild and so I wanted some of that economic cooling on my face.

0:57.0

I think you are really stretching the metaphor this time Robert even for the Beigey Awards. Yeah.

1:03.4

Maybe you should just like do the thing.

1:04.8

Okay, okay.

1:05.8

It's the Beigey Awards.

1:10.5

Our eight times a year salute to the art and science of telling stories about the economy.

1:16.0

I'm Robert Smith.

1:17.0

And I'm Whelan Wong.

1:18.0

It's a sleepy summer and the Beige book depicts a pretty dreamy economy, but the book does contain some nightmares

1:26.0

for a few essential businesses.

1:28.6

We will tell you those stories, give out the awards, and make this joint even cooler after the break. Support for this podcast and the following message come from Wise, the app that makes

1:45.1

managing your money in different currencies easy. With Wise, you can send and

1:50.0

spend money internationally at the mid-market exchange rate, no guesswork and no hidden fees.

...

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