The Irish Congress of Trade Unions has warned that women are being driven out of the workforce by the high cost and limited availability of childcare.
The ICTU Assistant General Secretary, Sally Anne Kinahan, said that for many working families the monthly cost of childcare is almost the equivalent of a second mortgage.
She said the high cost has forced many working parents to reduce their hours or give up work altogether to cut their childcare bill.
Miss Kinahan called on the Government to reduce the cost of childcare to parents by providing tax relief.
She also urged employers to provide more workplace childcare facilities as well as subsidies, vouchers and flexible workplace arrangements.
Miss Kinahan said the issue could harm future economic growth as a key factor driving the recent boom has been the increased female participation in the workforce.
According to a new survey published by the National Children's Nurseries Association, childcare in a private nursery now costs on average €156 a week per child.
That amounts to €8,000 a year of after tax income.
The survey shows that prices are highest in Dublin, where prices can reach €215 a week, but is significantly lower in rural areas.
Community based crèches are far cheaper than private facilities, averaging €88 a week. However, there are fewer such facilities available.
Care for babies generally adds €20 a week to the childcare cost, according to the findings of the survey.
