MONEY & LIFE

America’s Parenting Crisis

By: Anneken Tappe · November 22, 2023 · Reading Time: 2 minutes

Where Is Your Village?

Americans are struggling with the challenges of modern parenthood. It takes a village but support networks are hard to come by. And that’s before we even talk about the balancing act of work and child-rearing.

Millennial and Gen Z parents feel increasingly isolated: Factors like moving away for work and losing access to friends or family as a result, a lack of finding peers with children, and the heavy financial burden of having a family, weigh on them.

New Take on the Nuclear Family

The past decades were marked by turbulent economic conditions, from the dot-com bubble, to the financial crisis, recession, and the pandemic. It was also the period many of today’s younger parents – Millennials and Gen Z – entered the workforce. They’re incomes have grown when adjusting for education levels. But the cost of childcare has skyrocketed.

And as young families leave the cities for more affordable real estate, additional space, or better schools, a decrease in community engagement adds to the financial strain. Building the “village” it takes to raise a child is no easy feat.

All of this – the math, and the stories of loneliness – is influencing decisions about starting a family. Many young people increasingly feel it’s difficult or even impossible to raise kids with the resources available to them.

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