💰 +50% Early Childhood Education Spend. Logistics Skill Shortages in the EU. Germany's EV Skilled Workforce.
Chart of the Day #283 looks at Early Childhood Education in Australia, Logistics Skill Shortages in the EU, and EV Skilled Workers in Germany.
Ayebowan 🙏
Today's Topics
💰 Education Spend. >50% rise in Australias early childhood education spend
🍃 Green Skills. >15% of EU firms face logistics skill shortages
🧠 Workforce. +10% share of EV skilled workers in Germany
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💰 >50% Rise in Australias Early Childhood Education Spend
Between 2015 and 2024, Australia's expenditure on early childhood education and care (ECEC) services rose by over 50%, reflecting a significant commitment to improving access, affordability, and quality in this critical sector. This increase highlights the growing recognition of ECEC's role in child development and workforce participation. Major reforms to the child care subsidy (CCS) system since 2018 have significantly reduced out-of-pocket costs for families, particularly those with lower incomes or multiple children under five, further driving demand for ECEC services.
🍃 >15% of EU Firms Face Logistics Skill Shortages
In 2023, over 15% of businesses in the European Union reported significant logistics skill shortages, a trend that reflects broader labor market challenges and underscores the urgent need for workforce development. This shortage is particularly pronounced among SMEs, with 54% struggling to find qualified employees. The situation aligns with the EU's initiatives, such as the EU Year of Skills, which aims to promote upskilling and reskilling in high-demand sectors like logistics. Additionally, efforts to enhance mobility and attract skilled workers from outside the EU are being prioritized. If these initiatives succeed, they could significantly alleviate skill shortages, improve supply chain efficiency, and support economic growth across the region.
🧠 +10% Share of EV Skilled Workers in Germany
In 2021, the share of automotive workers in Germany possessing electric vehicle (EV) skills grew by nearly 10%, reflecting the country's accelerating transition to electromobility and its commitment to meeting climate change initiatives. This increase aligns with substantial investments by German carmakers and their suppliers in climate-neutral research and development, as well as in upgrading manufacturing plants. As a result of this shift, German OEMs are ahead in terms of the share of workers possessing EV skills compared to the US's EV market leader. The impact of this initiative is a shift in the automotive workforce from production-focused roles supporting combustion engines to those centered around information technology (IT) and digital skills needed for EVs
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