Get the latest market trends in your inbox

Stay on top of the latest market trends and economic insights with the Axios Markets newsletter. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Denver news in your inbox

Catch up on the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Des Moines news in your inbox

Catch up on the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Minneapolis-St. Paul news in your inbox

Catch up on the most important stories affecting your hometown with Axios Minneapolis-St. Paul

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tampa-St. Petersburg news in your inbox

Catch up on the most important stories affecting your hometown with Axios Tampa-St. Petersburg

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Photo: Tom Williams/CQ-Roll Call, Inc via Getty Images

School closures from the coronavirus pandemic could cause global GDP to be 1.5% lower for the remainder of the century, resulting in a $15 trillion loss for the U.S. economy, according to a report from the Organization for Economic Cooperation and Development.

Why it matters: The OECD projects that missed time in the classroom would result in a loss of the skills needed to boost economic productivity.

The big picture: Children are having to rely on their own resources to learn despite efforts from schools and educators to adapt lesson plans. Meanwhile, many parents have been unable to return to work because they can't find the childcare usually provided by schools.

Yes, but: The OECD notes that its estimates only calculate how the current school year affects the economy, and assumes that future cohorts of students will return to normal schooling.

  • "If schools are slow to return to prior levels of performance, the growth losses will be proportionately higher," the authors write.

Go deeper

Nov 28, 2020 - Health

U.S. public school enrollment drops as pandemic persists

Photo: Michael Loccisano/Getty Images

Public schools across the country are seeing a drop in enrollment numbers as schools have shifted to remote and hybrid learning programs to cope with the COVID-19 pandemic, the New York Times reports.

The state of play: Some parents are opting to keep their children at home or finding models that provide in-person coursework.

Philanthropy Deep Dive

Illustration: Aïda Amer/Axios

A look at how philanthropy is evolving (and why Dolly Parton deserves a Medal of Freedom).

Updated 5 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Politics: Fauci says he accepted Biden's offer to be chief medical adviser "on the spot" — The recovery needs rocket fuel.
  2. Economy: U.S. economy adds 245,000 jobs in November as recovery slows — America's hidden depression: K-shaped recovery threatens Biden administration.
  3. Education: Devos extends federal student loan relief to Jan. 31
  4. States: New Mexico to allow hospitals to ration coronavirus medical care
  5. Vaccine: What vaccine trials still need to do.
  6. World: UN warns "2021 is literally going to be catastrophic"
  7. 🎧 Podcast: Former FDA chief Rob Califf on the vaccine approval process.