First, we should recognize the importance of caregiving for young children in the lives of working parents. Many of our Federal Reserve Banks are exploring how important early childhood education and care are for working families. Many are also conducting research on childhood education investments, challenges facing the childcare sector, and the longer-term benefits that childcare and education provide.
8 Of note, the Federal Reserve Bank of Richmond recently published a case study of the success of early childhood education in Danville, Virginia, which is part of the fifth District. In 2010, this rural community had few and fragmented early child care and educational services.