PPB April 2020

Market Snapshot Money matters, and most schools continue to be strapped for cash. According to the American Federation of Teachers (AFT), education has been underfunded by $19 billion over the past decade. K-12 education is underfunded in every state and in 38 states, teachers made less in 2018 than they did in 2009. The financial issue doesn’t stop in higher education. Tuition and fees for a two-year degree in 2017 rose at three times the rate of inflation when compared with 2008, putting college out of reach for many degree-seekers. Beyond these issues, teachers are experiencing more stress than ever. More than half (61 percent) of educators say their work is “always” or “often” stressful, compared with roughly 30 percent of American workers in general, according to the AFT. Most of their stress stems from feeling as though they have little influence over school decisions. Educators are also stressed about working long hours with unbalanced pay. The National Center for Education Statistics found that almost all public-school teachers (94 percent) have spent their own money on school supplies without getting reimbursed. Considering the persistent stress, it’s no surprise that many educators are walking away from the profession. In 2018, roughly one million public education teachers left their jobs—the highest rate of any year on record, according to a Labor Department report. The result? Shortages of teachers nationwide and a dropping number of education majors. Teachers who remain in the classroom aren’t always showing up in the best way for their students. Nearly two-thirds say they are not engaged or are mentally and emotionally disconnected from their teaching role and their students’ needs. Teachers aren’t the only ones leaving their roles—principals are also increasingly packing up and moving on. Research from the National Association of School Principals shows that one out of every two principals is not retained beyond their third year of leading a school. By 2022, the demand for K-12 principals is projected to grow six percent nationwide, putting even more of a financial strain on districts. It can often cost between $36,000 to more than $300,000 to recruit, hire, mentor and provide continuing education for principals. When thinking about how to approach schools as potential clients, consider how you can address their greatest needs. Most schools are facing teacher and principal shortages that require immediate attention. You can start by looking for ways to reduce stress and help school professionals perform at their best. This could mean working with schools to develop teacher self-care plans or helping create more positive working conditions. In many ways, the education sector looks as rosy as an apple on a teacher’s desk. Drop-out rates are at historic lows and high school graduation rates are at all-time highs. In 1940, only 24 percent of people age 25 and older had finished four years of high school, according to the U.S. Census Bureau. Today, 90 percent of individuals in that age group have completed high school. More people are also attending college than ever before. According to data from Statista, 146 million college students attended public colleges in 2017 while 5.1 million students were enrolled in private colleges. By 2028, these figures are projected to increase to 15 million and 5.3 million, respectively. Whether you want to impact students and teachers in your city’s school system, or you have your sights set on higher education, you can use promotional products to make a difference. Read on to learn more about this thriving marketplace and the opportunities to create smart promotions for your education clients. | APRIL 2020 | 43 GROW