The Great Recession and Public Education
Kathryn Wagner ()
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Kathryn Wagner: Department of Economics Marquette University
No 2017-02, Working Papers and Research from Marquette University, Center for Global and Economic Studies and Department of Economics
We examine the impact of the Great Recession on K-12 education finance and employment and generate five key results. First, nearly 300,000 school employees lost their jobs. Second, schools that were heavily dependent financially on state governments were particularly vulnerable to the recession. Third local revenues from the property tax actually increased during the recession, primarily because millage rates rose in response to declining property values. Fourth, inequality in school spending rose sharply during the Great Recession. Fifth, the federal governmentâ€™s efforts to shield education from some of the worst effects of the recession achieved their major goal.
Keywords: great recession; public education; education finance; education employment (search for similar items in EconPapers)
JEL-codes: I22 I24 I28 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:mrq:wpaper:2017-02
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