BBCP - Are the workers coming back? Daycare spending soars in September

Bank of America's monthly dive into credit and debit card spending showed a notable increase in spending at daycare centers in September. Spending at daycare was up 52% year-over-year from last year's level as school started again and was only 13% below the pre-pandemic mark in 2019. Bank of America calls the trend an encouraging sign with reliable childcare seen as critical for the recovery of the labor force. The trend could also be a positive for Bright Horizons Family Solutions (NYSE:BFAM). On a broader sense, any company citing labor shortages could also be encouraged by daycare spending starting to normalize. The long and varied list of companies that mentioned "labor shortage" on recent conference calls include FedEx (NYSE:FDX), Target (NYSE:TGT), Hain Celestial (NASDAQ:HAIN), Delta Apparel (NYSE:DLA), Omega Healthcare (NYSE:OHI),REV Group (NYSE:REV), Cintas Corporation (NASDAQ:CTAS), Concrete Pumping Holdings (NASDAQ:BBCP), Culp (NYSE:CULP), Donaldson Company (NYSE:DCI), Latch (NASDAQ:LTCH). Run your own search

For further details see:

Are the workers coming back? Daycare spending soars in September