A new report has found that Australia’s economy is missing out on up to $22 billion by failing to adequately invest in the social and emotional skills of Australian children.
Economic analysis commissioned by Learning Creates Australia shows that for every dollar invested in social and emotional learning (SEL) a $4 return to the economy can be expected as well as better outcomes in school, work and life.
The Economics of More Capable Young People: Improving young people’s social and emotional skills for learning models the long-term economic benefit of improving the social and emotional skills of all Australian school-aged children.
CEO Bronwyn Lee says the results are particularly important for students facing disadvantage.
“Too many young people are leaving school disengaged and under-prepared for the world they are entering,” she said.
“The evidence shows that focusing on social and emotional skills improves behaviour, engagement with learning and academic achievement and that this is especially true for students who are already facing disadvantage.”
“On top of this, employers are looking for graduates who have these skills so they can collaborate, adapt and self-manage as they enter the workforce.”
The skills in focus include cognitive skills like attention and planning as well as emotional skills such as managing feelings and helping peers. Social skills like teamwork and empathy are also critical.
The report is one of two reports to be released as part of the organisation’s new series The New Economics of Education which looks at how investment in broader recognition and capability development has the potential to deliver strong returns for both individuals and the broader economy.
Lee says Australia’s ageing population and rising youth engagement has created a critical turning point for how we educate our children and young people.
“We need to shift away from treating academic results and broader capabilities like social and emotional learning as separate given the evidence continues to show us that they are interconnected and essential to learning success,” she said.
“There are already many schools leading this work and they need to be supported by governments, systems and parents so that their efforts can flourish across the education system.”
“Schools need backing so they can effectively prepare our young people for the world they are entering. This means supporting local adaptation and rethinking how success is recognised.”
ENDS
The report was commissioned by Learning Creates Australia and developed with research partner, Impact Economics and Policy who led the economic modelling. Download the report here.
This work forms part of The New Economics of Education – a series modelling the economic benefits of recognising more of young people’s learning and capabilities in senior secondary education.
Media contact – Maggie Hill (0404 196 452, maggie@hillplus.com.au).
