Child care is a two-generation issue: Gaps in quality and access affect not only the education that children receive but also their parents’ ability to go to work.
The high cost and other child care factors can keep parents, especially women, from joining or rejoining the workforce. In fact, 28% to 40% of parents surveyed for the U.S. Chamber of Commerce Foundation’s 2021 Untapped Potential research said they, or someone in their household, did not take a job or had to change jobs due to issues with finding suitable child care.
In turn, the data indicates, businesses’ ability to recruit and retain qualified workers is diminished.
Status quo means states lose $2.7B
We cannot continue with the status quo, because when child care breaks down, everyone suffers. The Chamber Foundation research found that states lose an average of $2.7 billion annually due to gaps in child care. This figure includes an average of $528 million in lost tax revenue and $2 billion lost from employee turnover and absences.
The data is clear: Child care is a workforce issue.
Determine employees’ child care needs
Employers can take steps to improve child care access for employees, families and — most important — children.
First, ask employees what they need. While business owners may think they know their workforce well, there is no substitute for real conversations around employees’ experiences. It’s important to remember that no two families are the same when it comes to taking care of their children.
Create opportunities and safe spaces for communication that allow for honest feedback from employees. This is the easiest and most effective way to begin to address the challenge of child care gaps.
Build in flexibility
Often, flexibility is the biggest variable in parents’ ability to find suitable child care. Business owners can’t always directly change how accessible child care is, but they can work with their employees on adjustments, such as providing flexible hours, shifts or schedules.
Employers also can leverage the growing trend of hybrid work.
All industries and regions are feeling the ramifications as families across the country struggle to find access to quality, affordable and flexible care for their children.
Ultimately, the best solutions will come from different stakeholders working together. The business community is well-positioned to take a leadership role in their employees’ ability to access child care effectively. A proactive and collaborative solution to fixing the child care crisis in America will yield returns for the economy, parents’ quality of life and our children’s educational future.
TORONTO – Strength in the base metal and technology sectors helped Canada’s main stock index gain almost 100 points on Friday, while U.S. stock markets also climbed higher.
The S&P/TSX composite index closed up 93.51 points at 23,568.65.
In New York, the Dow Jones industrial average was up 297.01 points at 41,393.78. The S&P 500 index was up 30.26 points at 5,626.02, while the Nasdaq composite was up 114.30 points at 17,683.98.
The Canadian dollar traded for 73.61 cents US compared with 73.58 cents US on Thursday.
The October crude oil contract was down 32 cents at US$68.65 per barrel and the October natural gas contract was down five cents at US$2.31 per mmBTU.
The December gold contract was up US$30.10 at US$2,610.70 an ounce and the December copper contract was up four cents US$4.24 a pound.
This report by The Canadian Press was first published Sept. 13, 2024.
OTTAWA – Statistics Canada says wholesale sales, excluding petroleum, petroleum products, and other hydrocarbons and excluding oilseed and grain, rose 0.4 per cent to $82.7 billion in July.
The increase came as sales in the miscellaneous subsector gained three per cent to reach $10.5 billion in July, helped by strength in the agriculture supplies industry group, which rose 9.2 per cent.
The food, beverage and tobacco subsector added 1.7 per cent to total $15 billion in July.
The personal and household goods subsector fell 2.5 per cent to $12.1 billion.
In volume terms, overall wholesale sales rose 0.5 per cent in July.
Statistics Canada started including oilseed and grain as well as the petroleum and petroleum products subsector as part of wholesale trade last year, but is excluding the data from monthly analysis until there is enough historical data.
This report by The Canadian Press was first published Sept. 13, 2024.
TORONTO – Canada’s main stock index was up more than 150 points in late-morning trading, helped by strength in the base metal and energy sectors, while U.S. stock markets were mixed.
The S&P/TSX composite index was up 172.18 points at 23,383.35.
In New York, the Dow Jones industrial average was down 34.99 points at 40,826.72. The S&P 500 index was up 10.56 points at 5,564.69, while the Nasdaq composite was up 74.84 points at 17,470.37.
The Canadian dollar traded for 73.55 cents US compared with 73.59 cents US on Wednesday.
The October crude oil contract was up $2.00 at US$69.31 per barrel and the October natural gas contract was up five cents at US$2.32 per mmBTU.
The December gold contract was up US$40.00 at US$2,582.40 an ounce and the December copper contract was up six cents at US$4.20 a pound.
This report by The Canadian Press was first published Sept. 12, 2024.