Earlier quoted context omitted.
Why are you assuming a job that is presumably low skill has a high supply of people willing to sell their time to perform that low skill job? > Unless there's some overhead per-child I don't understand I would start with liability costs, it must be massive for a professional daycare facility given how emotionally invested people are with their kids. Next would be redundancy of employees. Babies and toddlers transmit…
> Why are you assuming a job that is presumably low skill has a high supply of people willing to sell their time to perform that low skill job? Because there’s a low barrier to entry, people want money, and unless it were particularly horrible or life-threatening, if you’re going to find a high supply of labor anywhere, it’s going to be in a low-skill job? > I have never heard anyone tell their child to aspire to bec…
So there is your answer. People have better options.
And prices for labor at the bottom have increased for almost all jobs at the bottom of the pay scale. Fast food, landscaper, bus driver, daycare worker, etc.
The obvious cause would be a reduction in supply of labor willing to do the jobs at the bottom of the pay scale.
I would expect the trend to continue as the labor force participation rate continues to decline, partially due to decades of lower and lower birthrates not offset by immigration and automation.
https://www.bls.gov/charts/employment-situation/civilian-lab...