Growing minds, growing economy: Childcare and the workforce
October 7, 2021 - October 7, 2021
GOLDEN BALLROOM, PAN PACIFIC PERTH, 207 ADELAIDE TERRACE, PERTH
Achieving a dynamic Australian economy for future generations relies on our finding ways to support and unlock economic growth and jobs. One way to do this is to unlock the productivity gains that come from increasing female workforce participation.
KPMG estimates that halving the gap between male and female workforce participation positively impact Australia’s annual GDP by A$60 billion over the next two decades.
A major barrier to better female participation in Australia is the cost and quality of childcare – which has risen faster in recent years than the costs of housing or electricity. Women make up just 37.7% of all full-time employees in Australia and 68.2% of all part-time employees.
Further, the Federal Government’s recently released Intergenerational Report predicts that by 2060-61 there will only be 2.7 people of working age for every person over 65. Can Australia afford to allow the cost and availability of childcare to stand in the way of workforce participation and productivity?
Reforming early childhood education is not only key to driving workforce participation and economic productivity now, but it also has the potential to shape the minds, emotions, and skills of generations of young Australians, paying future dividends across all aspects of life and the economy.
It is estimated that for every $1 invested in early learning and care, Australia receives $2 back over the child’s life.
Join CEDA Chair, Diane Smith-Gander AO and Thrive by 5 CEO, Jay Weatherill AO in Perth as we bring together a multidisciplinary panel to discuss: Could a more coherent early childhood development system supercharge Australia’s economy?
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