WORKFORCE OF TODAY, WORKFORCE OF TOMORROW
WORKFORCE OF TODAY, WORKFORCE OF TOMORROW:
The Business Case for High-Quality Childcare
The U.S. Chamber of Commerce Foundation is dedicated to strengthening America's long-term competitiveness. We educate the public on the conditions necessary for business and communities to thrive, how business positively impacts communities, and emerging issues and creative solutions that will shape the future.
The views expressed herein are those of the author and do not necessarily state or reflect those of the U.S. Chamber of Commerce Foundation, the U.S. Chamber of Commerce, or its affiliates.
Copyright ? 2017 by the United States Chamber of Commerce Foundation. All rights reserved. No part of this publication may be reproduced or transmitted in any form-- print, electronic, or otherwise--without the express written permission of the publisher.
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WORKFORCE OF TODAY, WORKFORCE OF TOMORROW:
The Business Case for High-Quality Childcare
Katharine B. Stevens
June 2017
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WORKFORCE OF TODAY, WORKFORCE OF TOMORROW:
The Business Case for High-Quality Childcare
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Contents
Executive Summary........................................................................................................................................1 Introduction.....................................................................................................................................................2 World-Class Education Is the Key to a World-Class Workforce.................................................................3
Gaps Emerge Early..................................................................................................................................4 The Lifelong Importance of Children's First Years.................................................................................4 Childcare: America's Most Important Early Education Program................................................................5 How Childcare Strengthens Today's Workforce...........................................................................................7 How Childcare Strengthens Tomorrow's Workforce....................................................................................9 The Growing Importance of "Soft" Skills.............................................................................................10 The Economics of Human Potential.....................................................................................................11 The Childcare Industry.................................................................................................................................13 Industry Overview..................................................................................................................................14 The Role of Childcare in State Economies..........................................................................................15 A Weak Market.............................................................................................................................................17 High-Quality Childcare Matters............................................................................................................17 A Weak Childcare Market......................................................................................................................19 How to Build a Strong Market..............................................................................................................22 The Key Role of Business Leadership.........................................................................................................23 Opportunities for Business Engagement...................................................................................................25 Acknowledgements......................................................................................................................................27
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