Gap Between Work and School Hours Is Costly for Parents and Businesses

Having a child starting school, or going back after the summer break, doesn’t necessarily mean a reprieve for working parents.

You’re reading a condensed version of the latest Bloomberg Work Shift newsletter. Sign up here to get data, insights and solutions to futureproof your business and career, delivered on Tuesdays.

Caregiving platforms like Care.com and Cariloop say they see spikes in searches this time of year for parents looking for coverage for the gap between the end of school and the work day.

That can add up to 25 hours a week, according to Afterschool Alliance, a nonprofit organization.

If families can find it, it’s getting more expensive, too. On average an after-school sitter cost $292 per week for one kid in 2023, up 6% from a year earlier, according to Care.com.

Read more on how families can manage the gap in our full newsletter.

Quick Hits

• Freshly minted CEOs at Starbucks and Victoria’s Secret are joining the growing ranks of corporate leaders being given the option to run their businesses from afar, at least some of the time.
• In the UK, a building boom is happening in Manchester as young workers flee soaring living costs in London and others in the region are drawn to its energy and quality of life.
• China’s youth unemployment rate rose for the first time in five months as an influx of graduates entered the labor market at a time when the economy is struggling to find a firm footing.

Read the latest stories from the Work Shift team.

Never miss a beat. For unlimited access to Bloomberg and exclusive newsletters, subscribe here.