Federal Reserve Bank of San Francisco >> Tune in 8/6: The Impact of COVID-19 on the Child Care Market

Plus research and updates from Community Development at the SF Fed​

The Impact of COVID-19 on the Child Care Market Thursday, August 6th | 12:00 p.m. PT / 3:00 p.m. ET   Join us on August 6th for a Connecting Communities® webinar on the impact of COVID-19 on the child care market. Child care plays a critical role in people’s ability to work, but many lower-income households do not have the economic resources to afford high-quality child care. On the provider side, already-low margins mean many providers may close due to pandemic-related cost increases and revenue reductions. Tune in to learn how public policy and non-government organizations can address child care challenges that existed before and are exaggerated during the COVID-19 pandemic. Speakers will discuss how a successful response to the pandemic will require strengthening the child care sector to address the short-term economic threat and provide for a more sustainable business model for child care operators. The program will highlight how bolstering the sector can advance progress on racial and economic equity through access to high-quality child care. Register here The Connecting Communities® webinar series is a Federal Reserve System initiative providing a national audience with timely information on emerging and important community and economic development topics. All sessions are recorded and archived.       FOR YOUR READING LIST     Overcrowding in the Bay Area: Where the Housing Crisis meets COVID-19   The issue of overcrowded housing has known health consequences and is particularly concerning in the context of the COVID-19 pandemic. To better understand the issue of crowding, we examined trends in people moving to more crowded conditions in the Bay Area using data from the Federal Reserve Bank of New York Consumer Credit Panel / Equifax Data.  Here’s what we found     Driving Systems Change Forward   A slate of multisite, cross-sector initiatives has emerged to address structural root causes of inequities by changing the systems that shape community conditions and individual well-being. This report reflects on recent progress and shortcomings and provides strategies to drive systems change forward. The findings highlight the complex intersections of systems, racial equity, and power that can work for or against systems change. Read more     Transforming Conflict to Empower Community and Decrease Displacement in Gentrifying Communities   Conflict Transformation (CT) is an approach that grapples with and seeks to address deep social conflicts in addition to visible disputes. CT holds promise for helping communities navigate the challenges of gentrification in ways that bridge differences, facilitate communication, and further equity. This paper highlights principles of CT that illuminate how existing development and equity-focused strategies can be combined to foster true transformation. Read more     Staff Announcement   We're excited to welcome Rocio Sanchez-Moyano, PhD, as Senior Researcher in the Center for Community Development Investments. Rocio’s areas of expertise include housing and asset building, with a special interest in racial equity and the experiences of Hispanic and immigrant households. At the Center, her focus will be on emerging trends in community development finance and financial inclusion, including the role of fintech in low-income communities. Meet Rocio     SF Fed COVID-19 Resource Hub   Our resource hub makes it easy to find information about Fed actions and guidance in response to COVID-19 and related resources from the San Francisco Fed.   Read more       MORE FOR YOU     Perspectives from Main Street: The Impact of COVID-19 on LMI Communities   A recent Federal Reserve report summarizes findings from our second survey of organizations nationwide. The survey was conducted in June 2020 with over 1,800 respondents serving rural, suburban and urban communities. Of those surveyed, sixty percent indicated COVID-19 was significantly disrupting economic conditions in the communities they serve and expect the recovery to be difficult. The most frequently cited impacts of COVID-19 were income loss, job loss and unemployment. Explore the findings Main Street Lending Program Updates   The Federal Reserve Main Street Lending Program keeps credit flowing to small and mid-sized businesses and nonprofit organizations that were in sound financial condition before the coronavirus pandemic but now need financing to maintain operations. Looking for more information? Ready to apply for a loan? Interested in registering as a lender? Visit the Main Street Lending Program website for answers to your questions, program updates, and resources for borrowers and lenders. Learn more