WORKFORCE OF TODAY, WORKFORCE OF TOMORROW

WORKFORCE OF TODAY, WORKFORCE OF TOMORROW:

The Business Case for High-Quality Childcare

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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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