Students are seen outside Marikina High School, Nov. 2, 2022. Full face-to-face classes resumed for public and private schools in the Philippines last November. — PHILIPPINE STAR/ WALTER BOLLOZOSaround the world could lose up to 10% of their future average annual earnings due to “education shocks” during the height of the coronavirus pandemic, a new World Bank report showed.
“The pandemic and school closures threatened to wipe out decades of progress in building human capital. Targeted policies to reverse the losses in foundational learning, health, and skills are critical to avoid jeopardizing the development of multiple generations,” World Bank Group President David Malpass said in a separate statement.
Around 1.3 billion children in low- and middle-income countries missed at least half a year of school, 960 million missed at least a full year and 711 million missed a year and a half or more, the World Bank said. “Learning losses can derail not only students’ learning trajectory but also their lives by diminishing their economic prospects, lifetime earnings, and chances of escaping poverty. If swift and effective actions are not taken, the pandemic-related schooling shock could leave students and economies permanently scarred,” the World Bank said.
The World Bank said the number of hours worked by employed young people in the Philippines fell by 20 hours to just 19 hours a week during the pandemic. “Reversing the pandemic’s impact on them and investing in their future should be a top priority for governments. Otherwise, these cohorts will represent not just a lost generation but rather multiple lost generations,” Norbert Schady, World Bank chief economist for human development, said.