New Index Measures Financial Stability
What does it take for a family in the U.S. to have long-term economic security and not just "get by"? This question inspired the creation of the Basic Economic Security Tables Index (BEST), a joint effort of Wider Opportunities for Women (WOW) and the Center for Social Development (CSD) at the Brown School at Washington University in St. Louis. The BEST is different from other 'living wage' indexes in that it aims to capture what is needed for household stability and development rather than focusing on subsistence. Findings suggest that families' largest economic security challenges are rent and utilities, transportation, and childcare. The report calls the high cost of quality childcare "the greatest threat to many families' security." Childcare is so expensive that income needs for a one-parent family with two preschoolers are equivalent to those of a one-parent family with five teenagers.