Economic Growth

The current unemployment rate in Iowa is 2.5%, and there are currently 40,000 people on unemployment and 60,000 job openings. As historically low unemployment continues, employers are always looking for opportunities to recruit more workers and also to retain their existing workforce. To solve this challenge, Iowa business leaders have increased wages, offered flexible work environments where possible, and expanded benefits. More recently, one of those benefits is childcare.  

Each year, as the Chamber Foundation hosts the Talent Forward national workforce conference, we focus on talent—educating and training, talent tech and data, recruiting, hiring, and upskilling. With no shortage of talent challenges, the opportunities for informative discussion are endless. While a day devoted to dissecting talent-related topics could focus solely on the problems, Talent Forward is all about the solutions.

In this country, the early childhood education system is in market failure. In recent years we have seen the greatest federal funding increases for early childhood education in history, and yet those significant investments just barely make a dent to tackle the need. In 2018, NASEM studied “how to fund early care and education for children…that is accessible, affordable to families, and of high quality, including a well-qualified and adequately supported workforce.” The report concluded that a financial windfall of around $54 billion would be required.