Home » ExchangeEveryDay » How Child Care Benefits the Economy



ExchangeEveryDay Past Issues


<< Previous Issue | View Past Issues | | Next Issue >> ExchangeEveryDay
How Child Care Benefits the Economy
November 29, 2005
A true leader always keeps an element of surprise up his sleeve, which others cannot grasp but which keeps his public excited and breathless.
-Charles deGaulle

A growing number of studies support the value of quality child care in promoting economic growth.  The Economic Opportunity Institute in Seattle Washington, has published a number of excellent reports that add to the case for quality early care and education.  For example, their policy brief, “How does high quality child care benefit business and the local economy?,”  the Institute reports…

  • Employees with inadequate child care are more likely to be late for work, absent, or distracted on the job than parents who are confident about their child’s child care arrangements.  Employees may be forced to spend time at work or take time off to handle child care concerns.
  • A 1992 survey found that nearly 30 percent of workers knew employees who quit their jobs because of inadequate child care.  Productive and valued employees who leave their jobs because of child care problems increase hiring and training costs.
  • High rates of turnover, absenteeism, and low productivity cost employers money.  It is estimated that absenteeism caused by poor quality child care costs American business more than $3 billion a year.
  • Working parents lose the equivalent of six days of work annually due to child care issues or problems, costing Seattle businesses approximately $112 million a year.
  • To read this full report (including extensive references on studies), as well as a more in depth policy paper, “The Early Childhood Education Career and Wage Ladder:  A Model for Improving Quality in Early Learning and Care Programs,” go to www.eoionline.org and click on the link “Early Learning and Care.”

ExchangeEveryDay

Delivered five days a week containing news, success stories, solutions, trend reports, and much more.

What is ExchangeEveryDay?

ExchangeEveryDay is the official electronic newsletter for Exchange Press. It is delivered five days a week containing news stories, success stories, solutions, trend reports, and much more.

Do you belong on the Exchange Top 40?  We are compiling the 19th annual list of "North America’s Largest For Profit Child Care Organizations" for the January 2006 issue of Exchange.  If your for profit organization operates in multiple locations with a combined licensed capacity of over 1000, please tell us about your organization at [email protected].




Post a Comment

Have an account? to submit your comment.


required

Your e-mail address will not be visible to other website visitors.
required
required
required

Check the box below, to help verify that you are not a bot. Doing so helps prevent automated programs from abusing this form.



Disclaimer: Exchange reserves the right to remove any comments at its discretion or reprint posted comments in other Exchange materials.