The Economic Impact of Education

The Economic Impact of Education why global goal 4 should matter to governments

Many experts agree that education is directly tied to economic growth and stability.

Countries prosper when their educational systems are thriving.

A country's economic future is based on the skills of its workers.

Math and reading skills gained through primary education are a good predictor of the skills needed for future economic growth.

Without a basic foundation in math and reading, people lack the ability to gain more advanced knowledge that leads to more productive opportunities.

The United States embraced universal primary education in the 1800s.

Students in the United States are required to attend school until they are between 16 and 18 years old.

Research from the US Bureau of Labor Statistics shows that there is a direct correlation between the level of education students achieve and their economic future.

The United States is the 6th most educated country in the world,

Top 10 most educated countries in the world

and ranks 11th in GDP per capita (average income per person).

Top 24 countries with highest earnings per person

That means that the United States is doing well, right?

Actually, proficiency in math and reading in the United States is starting to lag behind other countries.

The United States ranks 31st in the world in international math and reading test scores.

International Math and Reading Scores

To appreciate the value of high math and reading scores, look at the economic growth projections between Singapore and the United States. The US is growing at a slower rate economically, while Singapore surges ahead.

The primary way the needle is moved on education is by enacting policies that provide better support for teachers and their students.

Maintaining focus on developing strong math and literacy skills ensures that people have the basic foundation to build on, the capacity to increase productivity, and have a positive impact on the economy.

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