For the information of Yaffa Ben-David: The Bank of Israel's study reveals that each week of the shutdown of the education system causes damage of about NIS 2.6 billion to the economy, due to the parents' absence from work.
In Israel, there are about 400,000 households in which an employed parent is forced to stay at home in order to look after his or her young children due to the lack of study frameworks in schools and kindergartens.
In light of the growing discourse on education and the mediated negotiations between the Ministry of Finance and the Teachers' Union, the Bank of Israel has coordinated relevant studies recently conducted by the Research Division.
The Bank of Israel warns that the widespread disruption of studies may affect students in the long run, mainly as a result of a decrease in the quantity and quality of human capital they will accumulate during their lives.
The main channel of influence of disrupting the school routine on student achievement is the loss of school hours.
How do vacations in the education system affect parental work?
A survey conducted by the Bank of Israel among parents of students in kindergartens and lower grades shows the possibility that the structure of student vacations in Israel adversely affects labor productivity in the economy: about half of the respondents testified that vacations adversely affect them at work.
More than 15% reported that they or their spouses took their children to work with them.
11% -5% reported that they or their spouses were absent from work without taking days off.
Finally, the Bank of Israel mentions the set of recommendations for improving the education system given to the government as early as June 2021 upon taking office.
Some of the recommendations are currently at the heart of the controversy between teachers and the Treasury.
Among other things, the Bank of Israel recommended to the government to improve the remuneration of teachers at the beginning of their careers also in future wage agreements, at the expense of reducing the remuneration according to non-performance-based seniority.
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