As the state’s unemployment rate hit a record low of 2.3% in March, labor shortages continue to impact the workforce. This week, leaders will gather at the Big Sky Business Insight Summit to address two key factors, housing and childcare.

Housing and childcare are essential for Montana’s workforce. When these needs aren’t met, parents can’t work and businesses struggle to hire and retain talent.

According to Montana KIDS COUNT, the current child care supply meets 39% of the demand for infants and toddlers. Supply worsens when adding school-age children.

The agency estimated it costs an average of $9,515 per year for infant care.