{"id":5927,"date":"2024-09-04T11:06:37","date_gmt":"2024-09-04T19:06:37","guid":{"rendered":"https:\/\/www.threadalaska.org\/learn-and-grow\/?post_type=learn-and-grow-blog&p=5927"},"modified":"2025-04-04T14:12:06","modified_gmt":"2025-04-04T22:12:06","slug":"alaskas-child-care-potential-is-unrealized-the-economic-impact-of-early-care-education","status":"publish","type":"learn-and-grow-blog","link":"https:\/\/www.threadalaska.org\/learn-and-grow\/blog\/alaskas-child-care-potential-is-unrealized-the-economic-impact-of-early-care-education","title":{"rendered":"Alaska’s Child Care Potential is Unrealized: The Economic Impact of Early Care & Education"},"content":{"rendered":"\n
Child care is more than care and education services for families and young children; it’s a cornerstone of economic growth and family stability. Early care and education in Alaska generates economic activity, prepares children for school and life, allows workforce participation, and improves Alaska’s standard of living. The 2023 Economic Impact Report, a collaboration between thread<\/strong>, McKinley Research, and the State of Alaska, Department of Health, sheds light on the critical role of Early Care and Education (ECE) in Alaska’s economy and the barriers that hinder its full potential.<\/p>\n\n\n\n When child care and early care and education services are available to families, we see more Alaskans able to participate in the workforce. ECE services enable nearly 50,000 adults to work, contributing to $4.6 billion in earnings. For families, access to ECE means increased earnings and more stable employment, with single mothers seeing average earnings of $78,500 and single fathers $89,400. Even two-parent households experience an average increase of $41,000 in earnings when both parents participate in the labor force.<\/p>\n\n\n\n Accessible, affordable, and quality ECE services have tangible benefits for families. They experience less stress, a significant increase in income, and more stable employment. Moreover, such services open up more employment opportunities and allow for more family time, fostering a healthier work-life balance.<\/p>\n\n\n\n Despite the evident benefits, many families face barriers to accessing ECE services. Over half of families find it difficult to secure care, citing availability, cost, and quality as primary concerns. This difficulty negatively impacts workforce participation, with many parents having to work fewer hours, change jobs, or even quit their jobs altogether to provide care for their children. This gap is growing with 51% of families reporting they cannot fully participate in the workforce due to child care issues- this is up from 25% reporting the same issues in 2019.<\/p>\n\n\n\n Employers are not immune to the impacts of inadequate ECE services. Absenteeism, loss of productivity, and turnover are common challenges linked to childcare issues. However, employers can benefit significantly by providing childcare benefits, experiencing decreased turnover, improved culture, and higher job satisfaction among employees. thread has partnered with the State Chamber to better understand the intersection of child care and employers, the data continues to underscore child care barriers for businesses of all sizes in Alaska.<\/p>\n\n\n\nEmpowering Alaska\u2019s Labor Force:<\/h6>\n\n\n\n
Benefits for Families:<\/h6>\n\n\n\n
Challenges and Barriers:<\/h6>\n\n\n\n
The Role of Employers:<\/h6>\n\n\n\n