Students face future earnings loss due to Covid-19

19 June 2020 (Last Updated June 19th, 2020 08:05)

19 June

The Covid-19 pandemic has led to the closure of schools and colleges across the world to contain the spread of the disease.

The closures have left billions of students out of school impacting learning and schooling levels. In the long-term, the pandemic may impact marginalised groups and hurt the future earnings of millions of students.

João Pedro Azevedo, a development economist, tweeted on how the Covid-19 pandemic is expected to result in the loss of $1,408 in yearly earnings for students from the current cohort.

Further, students may lose between $6,472 and $25,680 in earnings over their lifetime.

The statistics are based on a new report from the World Bank containing data from 157 countries on how the pandemic is impacting schooling and learning outcomes.

The new report notes that the pandemic may exacerbate inequality and students from minority groups are more likely to be affected.

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