A Back-to-school Economics Lesson
Seminole County Public School students are back in class today, and kids in neighboring districts will join them next week. This time of year impacts thousands of families – and the local economy.
90.7 Economic Analyst Hank Fishkind explains, “Back-to-school has a big impact on the broader economy. Just to put a point on it, the back-to-school shopping is the third-highest spending period in all of the year.”
The National Retail Federation predicts the average family with k-12 kids will spend $669 this year on back-to-school shopping, but Fishkind says families can budget both costs and savings.
“The costs involved, the capital costs, of outfitting them properly to go to school – and the lunch monies and other things that one would pay that may be a little higher than the at-home costs,” he says. “The benefits, certainly, there’s no childcare costs while the kids are in school, which is very significant, especially in our community.”
Child Care Aware of America reports that Florida families can drop $6,324-$8,299 per child annually for full-time care.
For teachers, this year means phasing in Common Core standards and a new merit-based pay system.
The first day of school impacts theme parks as well. This is the time many let go of seasonal workers.
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