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Consequences of the Pandemic for Short and Long-Run Educational and Labor Market Outcomes

October 20, 2022

Toward an Inclusive Recovery Consequences of the Pandemic for Short- and Long-Run Educational and Labor Market Outcomes, October 20, 2022 (video, 1:33:12). Open the full transcript in a new window >

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.


Panel experts

Colored squares join and converge


2:00-2:05 pm ET


Maria Thompson, f. Outreach Manager, Federal Reserve Small Business Credit Survey

2:05-2:15 pm ET

Introductory remarks

Michelle Bowman, Governor, Federal Reserve Board of Governors

2:15-3:25 pm ET

Panel, Q&A

Celeste Carruthers, University of Tennessee

Rajeev Darolia, University of Kentucky

Diane Schanzenbach, Northwestern University

Gema Zamarro, University of Arkansas

Lanae Erickson, Third Way Moderator

Policy Discussant

Nat Malkus, American Enterprise Institute

3:25-3:30 pm ET


Maria Thompson, Outreach Manager, Federal Reserve Small Business Credit Survey

About the Series

The Federal Reserve Community Development Research Seminar Series is a forum for exploring the intersection of research, policy, and practice in the community development field. The Series expands access to high-quality research that informs stakeholders who are working to support low- and moderate-income communities and communities of color.