Real Cost Of School Closures Thank You, Teacher Unions

Schools closures have devastating long-term economic consequences. With today’s ALG Minute, I’m Catherine Mortensen. The longer that schools remain closed or only offer virtual learning the more catastrophic the cost will be for students, parents, and teachers. On average, American students from kindergarten to fifth grade have missed out on 20% of the reading and 33% of the math skills they would have learned in normal times, according to a McKinsey report that analyzed test scores from around the country. As for the long-term impact on the U.S. economy from deprived education, McKinsey estimates a $14 to $28 trillion loss. Stanford economist Eric Hanushek said "Nobody’s paying attention to this absolutely stunningly large economic cost that just keeps piling up.” Hanushek warns policy makers that the main thing that drives both individual earnings and the economy is the skills of the people. Lower test scores translate to lower individual earnings to lower economic growth in the future. Thank you, teacher unions.Show more

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