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On October 20, the Federal Reserve Board of Governors hosted a community development research seminar discussing short- and long-term consequences of the COVID-19 pandemic on K-12 education, higher education, and the future workforce.

Recent disruptions in K-12 students’ education as a result of the COVID-19 pandemic potentially have far-reaching consequences. The repercussions of the range of interruptions may affect students’ development on several dimensions, including their future academic and economic success. Therefore, understanding who was most disproportionately affected and the issues that may impact workforce development and labor markets in the future is critical to supporting an equitable recovery from the pandemic.

Disruptions in learning could have short- and long-term impacts on how students make life choices, the most immediate likely being what path to pursue upon completing high school. Whether students enroll in a two- or four-year degreed program, pursue technical or certification training, enter the workforce immediately, or customize a path combining elements of several of these options, these decisions have personal financial implications for the students as well as long-term consequences for their future engagement in the workforce. Therefore, insights into academic learning and child development have significant importance for researchers and policymakers to better understand and inform an integrated and effective environment that leads to success for individuals and the economy.