Article Link: http://exchangepress.com/article/employer-child-care-languishes-awaiting-economic-upturn/5015322/
Three significant developments occurred in the employer child care arena in 2003:Knowledge Learning Corporation’s (KLC) acquisition of Aramark Educational Resources (formerly Children’s World Learning Centers) was clearly the big story. The acquisition makes KLC the second largest child care provider in North America (and the world actually), and solidifies their position as the second largest provider of child care for employers.
The pre-September 11 growth rate averaging over 10% a year, has continued to be a distant memory (see Table 1). For the second straight year growth in the employer child care sector remained at the 4% level.
Bright Horizons Family Solutions, the leading supplier of child care for employers, again posted above average gains, boosting the number of spaces it provides for employers by nearly 7%. A significant share of this growth resulted from current clients opening additional centers.
Impact of the Recession
With unemployment high and economic growth at a standstill, the climate is not ideal for expanding demand for employer child care. However, those leaders interviewed for this update are not in complete agreement as to the exact impact of the current economic climate:
Elanna Yalow, Knowledge Learning Corporation: When the economy begins to recover, working parents will continue to need child ...