Diana Mousina’s Post

Few people know more about the cost of childcare and early education to professionals than an economist. And when that economist is AMP Deputy Chief Economist and mum-of-two Diana Mousina? Stick a fork in me because I am done! I love Diana’s fact-based take on this topic, combined with the authentic personal twist we’re all looking for in the content we consume on social media. For my working parent community, what does your cost/benefit equation look like when it comes to childcare? Check out the video below and join the conversation in the comments.

What if the biggest negative of being a full-time parent - in the way it was common for housewives in Western society in the golden era of the middle class - was not really the extra time on their hands leading to boredom and anxiety ... which was 'solved' - or substantially 'solved' - by both parents working ... was social isolation from lack of connection - including, or even mainly, with their life partner - which was then solved by parents working less rather than more? But how would that family afford the American/Australia/etc - the Western - dream of home ownership, cars and financial security? (No doubt the question many immediately asked.) Well leaving aside - for a moment - the reality that that dream has been lost for very many in Western society anyhow ... what if Nixon's attempt to institute a universal basic income in the US succeeded ... see https://lnkd.in/gtFbjMz8 and like most good ideas, it was broadly adopted throughout the West? From my experience of almost 2 decades of being a stay at home dad, I know that it's not just - or even mainly - the not being intellectually stimulated that leads to anxiety ... because, let's face it, there are plenty of accessible forms of intellectually stimulating material available at our fingertips these days ... and opportunities to share our own analysis and views and talk/debate (as I have consistently done, most recently at MacroEdgo.com). It is the lack of social contact that is most challenging to deal with and that includes with your family and life partner. I have much more energy and feel much more content when my family are nearby to me. Now I know plenty of working parents will say that they can feel like they spend too much time with family during a vacation - I've certainly heard that said - and each time I do I find it incredibly sad because ... it indicates that they have become conditioned to spending so little time together that they do not feel comfortable in each other's company for more extended periods. This is where I think the pandemic and periods of isolation in family groups were an important opportunity for Reset amongst families, and I think it is a shame so much focus was placed on working parents - especially mothers - struggling to help children with home learning ... Afterall, we are talking about largely professional adult parents who could easily carry out that task of assisting children in their learning... but for the requirements, and often over-reach, of their employers. If we can leave aside our complex emotions over this I think there is much we can all learn from each other ... and the benefits to society - for each of us - would be very significant.

Health and social care businesses face an increased wage bill as a result of the Autumn Statement; a change which will be welcomed by care home workers hit hard by the cost of living crisis. The key question for businesses will be whether these measures, together with the roll out of 30 hours free childcare to younger children, translate in any way to an easing of staff shortages.   Read more about the announcements in our in depth analysis here https://lnkd.in/eteEcMCN

There are a number of factors that might prevent someone from playing a part in the labour market from long-term illness, caring responsibilities or just getting to work. Key ask three from our Manifesto: ‘Dynamic labour markets for growth’ explores how to ensure that everyone has access to opportunities and addresses the barriers that restrict people from entering the labour market. Within our manifesto we provide specific recommendations to the government which include: 💡To reform the #ApprenticeshipLevy. 💡Commit to funding local rail and bus links 💡Expand the eligibility for 30-hours childcare entitlement. 💡Consult on and publish plans to increase the childcare workforce. Explore the details of key ask three via the link below 👇 https://bit.ly/4997Crh #PowerOfRecruitment #RECManifesto #FutureOfWork

Week three and we are continuing our journey with key ask three from our Manifesto: ‘Dynamic labour markets for growth’. This ask explores how to ensure that everyone has access to opportunities and addresses the barriers that restrict people from entering the labour market. This has never been more important given current levels of economic inactivity and the inequalities in society. Within our manifesto, we provide specific recommendations to inform the next government which include: 💡To reform the #ApprenticeshipLevy so everyone can work and learn. 💡Commit to funding local rail and bus links so people can get to work. 💡Expand the eligibility for the 30-hours childcare entitlement. 💡Consult on and publish plans to increase the childcare workforce. Explore the details of key ask three via the link below 👇 https://bit.ly/4997Crh #PowerOfRecruitment #RECManifesto #FutureOfWork

“Early childhood educators remain some of the lowest-paid workers in Australia,” Georgie Dent, CEO of The Parenthood, told Euan Black from The Australian Financial Review. “It is skilled, demanding, valuable work, and the remuneration needs to reflect that.” The country’s largest early childhood education, Goodstart Early Learning says workers are leaving the sector for higher-paying roles in industries such as aged care, as calls grow for the federal government to fund a pay rise for early childhood educators or risk its early childhood agenda. The warning comes as aged care providers – backed up by data from jobs site SEEK – reveal labour shortages in their sector have eased significantly thanks to increased migration and a big bump in wages. Economist Chris Richardson said the aged-care pay rises were fair and necessary given the sector’s historic underpayment, but could also fuel labour shortages in other industries and push up inflation. Now the pressure is on the federal government to fund a similar increase for early childhood workers. Georgie Dent said she expected the Anthony Albanese government to act on this either in the federal budget or the weeks leading up to it. She said there had been a “mass exodus” of early educators and teachers during the pandemic and stemming that loss was “absolutely critical to the government being able to realise its vision around early childhood education and care”. Read the full article here: https://lnkd.in/gMZt_Drn

For manufacturers in Kentucky:

The Trades Union Congress (The TUC) annual Women’s Pay Day shows the average gender pay gap is 14.3% but that rises to 21.3% for employees in the education sector. An accessible and high-quality early education and care system is vital for families, children and the health of the economy. The Centre for Progressive Policy revealed that working mothers could boost their earnings by £12 billion if they had enough affordable childcare. The early education and childcare workforce is predominantly female and the biggest factor in addressing pay for our sector is Government underfunding. If hourly rates for places don’t keep pace with rising costs and wage increases then employers are unable to recognise and reward their staff in the way they deserve. Investing in early education and care helps boost our economy, gives children the best start in life and can address pay challenges in our sector. What do you think? Let us know in the comments 👇 #GenderPayGap #WomensPayDay #Nurseries #EarlyYears #Childcare #Education #Nursery #EYFS #CurriculumForWales #ELC

🔎 Analysis: The government insists the phased 15 and 30-hour expansion of free nursery provision is on track, but opposition says the policy is in chaos. The political imperative for the change arises from the practical problem that new parents will not need any reminding of — the prohibitive cost of childcare means it is often not worth going back to work. Many parents, often women, therefore drop out of the workforce. With economic inactivity emerging as one of the key drags on Britain’s economy, and therefore the Conservatives’ election hopes, getting more people back to work is seen as crucial. But what will Labour do?

With my partner currently on maternity leave it made me think about how fortunate we are but also how the system is failing so many parents in the UK. The UK minimum Wage (National Living wage) is £11.44 with the real living wage an estimated £12 outside of London and £13.15 inside London. Based on the UK average of 36 hours per week this equates to; UK minimum wage per week: £411.84 Real living per week (Outside London): £432 Real living per week (in London): £473.40 SMP is £172.48 or 90% of your average weekly earnings (WHICHEVER IS LOWER) If the UK government believes that the cost of living per week for 1 person is in fact £411.84 how can it be justified that SMP is only 41.8% of this? Does this mean a family of 2 can magically afford to live for less? Does this force mothers to return to work sooner than they would like? With an average weekly nursery cost in the UK of £275 or £1106.52 a month is returning to work actually affordable? The average UK salary is £33k or £2154 per month or £497 per week this means childcare typically equates to 51% of your monthly earnings this doesn’t consider rent or a mortgage, utility costs, and food. This leaves mothers in the position where they are forced to reduce hours or stop working altogether. How can this be right? I of course don’t have the answers on how to solve this but there is something very wrong. #maternity #maternityleave #smp #childcare #hr #people