Want to Grow Colorado’s Economy? Fix the Child Care Crisis
Workers and employers feel pain in pocketbooks and productivity due to lack of high-quality infant-toddler care
ReadyNation’s new study examining the economic impacts of Colorado’s infant-toddler child care crisis on working parents, employers, and taxpayers describes an annual cost of $2.2 billion in lost earnings, productivity, and revenue.
Productivity challenges affect both employer and employee. An overwhelming 79 percent of Colorado parents surveyed reported at least one adverse impact on their efforts or time commitment at work due to child care problems. The predictable impact: one-in-four say they’ve been reprimanded, and 16 percent have been fired. Meanwhile, productivity problems cause employers to lose $680 million annually due to child care challenges faced by their workforce. Taxpayers also suffer, with lower tax revenues.
The shortage of affordable, high-quality child care in our state is creating major problems for families and businesses alike. If we want to strengthen and continue to grow our economy, we need solutions to fix our child care challenges of today.
Kevin Hougen, President & CEO, Aurora Chamber of Commerce
The business leaders of ReadyNation call on federal, state, and local policymakers to support families’ access to affordable, high-quality infant and toddler care. Effective, well-funded policy initiatives that consider infant, toddler, and family child care, as well as continuing innovations at the federal, state, and local levels, will yield a child care system that will support a more productive Colorado workforce and economy, both now and in the future.
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