07/15/2021 | Press release | Distributed by Public on 07/15/2021 07:20
Watch the full event HERE
Yesterday, U.S. Secretary of Commerce Gina M. Raimondo, TIME'S UP President and CEO Tina Tchen, and over 75 CEOs and senior leaders from the TIME'S UP Care Economy Business Council met for a discussion on how investments in a comprehensive caregiving infrastructure will build a stronger, more inclusive economy. Throughout the event, speakers highlighted the economic benefits that caregiving investments have on the nation's economic recovery and long-term success, as well as working women and their families.
'Not only is building strong care infrastructure the right thing to do for care workers and American families across the country - it is also the right thing to do to support our continued economic growth and get Americans, especially women, back to work,' said Secretary Raimondo. 'This issue is all about commerce and the economy. If you want to have a productive workforce, you must provide childcare, elder care and care for the disabled. There are millions of women who work in really hard jobs that matter taking care of children, our elderly and the disabled with low wages. It is good for our economy to pay them good wages.'
'This is not a red or blue issue. We know the pandemic has hit everyone,' said Tchen. 'These workforce challenges do not just exist in blue states - they exist everywhere. Care infrastructure is not a partisan issue. It is something we need for our entire economy and entire country at this very critical moment.'
'The fact that nearly 3 million women have left the workforce is a huge issue that we have to face, especially at a time when so many companies are struggling to bring people back to work,' said Dara Khosrowshahi, CEO of Uber. 'It is in all of our interests to bring women back to work and not have to worry about care of children and elders that are preventing them from entering the labor force.'
'Care is the key,' said Tim Allen, CEO of Care.com. 'It is the difference between employees working, companies being productive, and our economy coming to a halt.'
'The investment is recouped through retention. Retention is so important in this economy and keeping these workers and these skills in the economy,' said Jenna Johnson, Head of Patagonia Inc.
The event comes as Secretary Raimondo and the Biden Administration continue to emphasize the need for transformational investments in America's care infrastructure. On Monday, Secretary Raimondo joined Sen. Bob Casey (D-PA), Rep. Debbie Dingell (D-MI) and Rep. Susan Wild (D-PA), SEIU President Mary Kay Henry, Ai-jen Poo, co-founder and executive director of the National Domestic Workers Alliance, and a home care worker and recipient to discuss how care infrastructure is vital to economic prosperity. In the past week, Raimondo has spoken with Reuters, 19th News, Washington Post, and Fortune about the urgent need to address the crisis of women leaving the workforce by investing in the care economy.