children playing

Socioeconomic benefits and labour market developments for New Brunswick

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Fairholm, Robert
Publication Date: 
17 Apr 2010


Excerpts from the presentation:

Short and long-run effects

>> Short-run stimulus multiplier
>> Long run benefit-cost ratio

- Growth theory demonstrates that investing in people is crucial in determining long-term success for a province like NB

- Investing in education increases labour productivity and boosts real incomes, so might as well start when they are young

Conclusion and recommendations

- To have the full benefits of early childhood education and care the ECEC sector must have trained staff

- Policies should encourage improved training of ECEC workforce

- NB should institute training requirements

- Any wage subsidies should be linked to training in order to encourage retention of trained staff

- Revamping of HRM practices can deliver large gains in job satisfaction & retention