This report on Education and the Economy is the first in a series of indicator reports recommended by the congressionally mandated Special Study Panel on Education Indicators. In this report, we examine the link between education and economic productivity from different angles using a variety of data sources. First, we present indicators related to historical trends in worker productivity in the United States and other countries and the contribution of education to these trends. We also consider the link between education and productivity at the individual level, focusing on the economic consequences of educational attainment, educational achievement, and adult literacy. Since accumulation of human capital does not end with formal schooling, we also explore the link between worker training and productivity. Finally, we compare key measures of educational performance in the United States with corresponding measures in other countries. The indicators in this report come from many data sources, including NCES as well as other federal and international statistical agencies. In addition, we examine the existing research on the indicators and related issues, presenting arguments and conclusions from researchers on all sides of the issues. Our hope is that the report will inform the public about the role of education in determining the economic well-being both of the nation and of individuals, and that the report will serve as a model for future indicator reports recommended by the indicators panel.
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