"Covid pandemic to cost students $17 trillion in lifetime earnings"

" \n Covid pandemic to cost students $17 trillion in lifetime earnings \n \n\n \n This\u00a0generation of students now risks losing $17 trillion in lifetime earnings in present value, or about 14 percent of today\u2019s global GDP, as a result of COVID-19 pandemic-related school closures, according to a new report published today by the World Bank, UNESCO, and UNICEF. \n \n\n \n The new projection reveals that the impact is more severe than previously thought, and far exceeds the $10 trillion estimates released in 2020.\u00a0 \n \n\n \n In addition, The State of the Global Education Crisis: A Path to Recovery report shows that in low- and middle-income countries, the share of children living in Learning Poverty \u2013 already 53 percent before the pandemic \u2013 could potentially reach 70 percent given the long school closures and the ineffectiveness of remote learning to ensure full learning continuity during school closures. \n \n\n \n \u201cThe COVID-19 crisis brought education systems across the world to a halt,\u201d\u00a0 said\u00a0Jaime Saavedra, World Bank Global Director for Education.\u00a0 \n \n\n \n \u201cNow, 21 months later, schools remain closed for millions of children, and others may never return to school. The loss of learning that many children are experiencing is morally unacceptable. And the potential increase of Learning Poverty might have a devastating impact on future productivity, earnings, and well-being for this generation of children and youth, their families, and the world\u2019s economies.\u201d \n \n\n \n Simulations estimating that school closures resulted in significant learning losses are now being corroborated by real data. For example, regional evidence from Brazil, Pakistan, rural India, South Africa, and Mexico, among others, show substantial losses in math and reading. Analysis shows that in some countries, on average, learning losses are roughly proportional to the length of the closures. \n \n\n \n However, there was great heterogeneity across countries and by subject, students\u2019 socioeconomic status, gender, and grade level. For example, results from two states in Mexico show significant learning losses in reading and in math for students aged 10-15. The estimated learning losses were greater in math than reading, and affected younger learners, students from low-income backgrounds, as well as girls disproportionately. \n \n\n \n Barring a few exceptions, the general trends from emerging evidence around the world align with the findings from Mexico, suggesting that the crisis has exacerbated inequities in education: \n \n\n \n Children from low-income households, children with disabilities, and girls were less likely to access remote learning than their peers. This was often due to lack of accessible technologies and the availability of electricity, connectivity, and devices ,\u00a0 as well as discrimination and gender norms. \n \n\n \n Younger students had less access to remote learning and were more affected by learning loss than older students, especially among pre-school age children in pivotal learning and development stages. \n \n\n \n The detrimental impact on learning has disproportionately affected the most marginalized or vulnerable. Learning losses were greater for students of lower socioeconomic status in\u00a0countries like Ghana, Mexico, and Pakistan. \n \n\n \n Initial evidence points to larger losses among girls, as they are quickly losing the protection that schools and learning offers to their well-being and life chances. \n \n\n \n \u201cThe COVID-19 pandemic shut down schools across the world, disrupting education for 1.6 billion students at its peak, and exacerbated the gender divide. In some countries, we\u2019re seeing greater learning losses among girls and an increase in their risk of facing child labor, gender-based violence, early marriage, and pregnancy.\u00a0To stem the scars on this generation, we must reopen schools and keep them open, target outreach to return learners to school, and accelerate learning recovery,\" \u00a0said\u00a0UNICEF Director of Education Robert Jenkins. \n \n\n \n Read This: Ghana: 100 businesses to benefit from the AfCFTA \n \n\n \n The report highlights that, to date, less than 3 percent of governments\u2019 stimulus packages have been allocated to education. Much more funding will be needed for immediate learning recovery.\u00a0 \n \n\n \n The report also notes that while nearly every country in the world offered remote learning opportunities for students, the quality and reach of such initiatives differed \u2013 in most cases, they offered, at best, a rather partial substitute for in-person instruction.\u00a0 More than 200 million learners live in low- and lower middle-income countries that are unprepared to deploy remote learning during emergency school closures.\u00a0 \u00a0 \n \n\n \n Reopening schools must remain a top and urgent priority globally to stem and reverse learning losses. Countries should put in place Learning Recovery Programs with the objective of assuring that students of this generation attain at least the same competencies of the previous generation. \n \n\n \n Programs must cover three key lines of action to recover learning: 1) consolidating the curriculum; 2) extending instructional time; and 3) improving the efficiency of learning. \n \n\n \n In terms of improving the efficiency of learning, techniques like targeted instruction can help learning recovery, which means that teachers align instruction to the learning level of students, rather than an assumed starting point or curricular expectation.\u00a0 \n \n\n \n Targeted instruction will require addressing the learning data crisis by\u00a0assessing\u00a0students\u2019 learning levels.\u00a0It also necessitates additional support to teachers so that they are well-equipped to teach to the level of where children are, which is crucial to prevent losses from accumulating once children are back in school. \n \n\n \n \u201cWe are committed to supporting governments more generally with their COVID response through the Mission Recovery plan launched earlier this year,\u201d\u00a0 emphasized\u00a0Stefania Giannini, UNESCO Assistant Director-General for Education.\u00a0\u00a0 \n \n\n \n \u201cWith government leadership and support from the international community, there is a great deal that can be done to make systems more equitable, efficient, and resilient, capitalizing on lessons learned throughout the pandemic and on increasing investments. But to do that, we must make children and youth a real priority amidst all the other demands of the pandemic response.\u00a0 Their future \u2013 and our collective future \u2013 depends on it.\u201d \n "

"Covid pandemic to cost students $17 trillion in lifetime earnings"

Russia’s trade rivalry with China in Central Asia is heating upAMP

Japan unveils world’s first 6G device that’s extremely faster than 5GAMP

Real Madrid win 36th La Liga title after Barcelona lose to Girona AMP

Ghana skipper Andre Ayew continues scoring run in Ligue 1AMP

Premier League: Haaland hits four as Man City keep title pressure on leaders ArsenalAMP

Societe Generale to exit Ghana, two other African marketsAMP

Exxon completes $60bn acquisition of PioneerAMP

Congo’s $7 billion infrastructure deal with China will depend on copper pricesAMP

30% of Nigeria’s external reserves are FX bank swaps – Fitch RatingsAMP

Russia’s trade rivalry with China in Central Asia is heating upAMP

Japan unveils world’s first 6G device that’s extremely faster than 5GAMP

Real Madrid win 36th La Liga title after Barcelona lose to Girona AMP

Ghana skipper Andre Ayew continues scoring run in Ligue 1AMP

Premier League: Haaland hits four as Man City keep title pressure on leaders ArsenalAMP