The Effect on Our Economy

In this report, KYW's Mike DeNardo looks at the impact of Philadelphia's dropout rate on the local economy.

by KYW's Mike DeNardo

Philadelphia's 42-percent dropout rate has an enormous cost to the region.

"In direct terms, it's in the hundreds of millions of dollars."

Greater Philadelphia Chamber of Commerce president Mark Schweiker (above) says to think about the money spent each year to educate young Philadelphians, only to have half of them drop out:

"It's an urgent matter for Philadelphia and the wider region -- if for no other reason than our ability to compete rests upon having a pipeline full of job-ready workers with the right skills and a high school diploma."

The Chamber has sponsored employer-paid internships to expose students to life outside of school, and give them a reason to stay in. Schweiker says more vocational education would also help:

"There is little doubt in my mind that we have a subset of very earnest, perhaps not sufficiently motivated young people in our high schools that may not find themselves interested in the traditional academic, slugging-it-out-in-the-classroom kind of challenge. They're more comfortable using their hands."

Schweiker says that ultimately, businesses may steer clear of Philadelphia if there isn't a deep pool of qualified graduates:

"The mental leap could be made by investors and capitalists and entrepreneurs that maybe this is not an enriched place to do business. And ultimately, you'll pay the price in terms of less company starts and a slow economy."

(Photo by KYW's Mike DeNardo)