Goldman Sachs: While the risks of sending children back to the classroom are real, “the costs to the economy and students of keeping schools closed are also substantial.”
In a more normal time, this would be the time of year for back-to-school shopping, signing up for teams and clubs and choruses, and scheduling parent-teacher conferences.
The researchers estimate that 1.2 million of the 22.2 million jobs lost in March and April were education-related. That figure includes support staff like lunch workers and custodians, too. While teacher employment is now back to pre-pandemic levels, the other, lower-skilled, jobs haven’t recovered. Parents – particularly woman – may have to drop out of the labor force or make only partial returns to work because they’re also having to serve as fulltime caregivers and educators, the economists wrote.
This analysis doesn’t take into account longer-term costs, which the Goldman analysts say include “negative effects from lower quality education, the lack of social and emotional skill development, increased rates of depression and anxiety, food insecurity, worsening income inequality if lower income households are less able to work from home, and worsening educational inequality if poorer households have less access to remote learning.
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