Get Yer Discount Nannies, Courtesy of the Sour Economy
How much would you pay per hour for a nanny to watch your children? Maybe $25?
How about $17?
That's right! For a limited time only, the soft economy is offering discount nannies! Act now! Supplies are limited!
It's as if Crazy Al's Discount Nanny Barn is having a monster closeout sale.
The Wall Street Journal reports the best place to pick up a bargain-basement nanny is California's Silicon Valley. Nannies in the heart of the high-tech industry used to charge up to $25 an hour to watch the children of the rich and geeky.
Now they're going for as low as $17 an hour.
"Whenever I called the nanny agencies before, right away they'd give me some families who wanted to interview me," Natasha Ivanov, a Silicon Valley nanny for the past 15 years, tells the newspaper.
Operators of nanny agencies, such as Stanford Park Nannies in Menlo Park and Aunt Ann's Agency in San Francisco, tell the Journal the demand for nannies has dropped because more parents are staying home with their children because of layoffs.
Meanwhile, the paper reports, the number of nannies seeking employment has grown. Laid off teachers and other child care professionals are turning to the nanny business to make ends meet.
But with demand down and supply up, wages are going down.
Daryl Camarillo, the owner of Stanford Park Nannies, tells the paper her agency's profits dropped 30 percent from 2008's revenue.
"There has been a slowdown as people move out of the area and cut back any way they can," Camarillo tells the Journal.
Related: Parents Struggle to Find Inoculated Nannies
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