Are We Short-Changing our Future? The Economic Imperative of Attracting Great Teachers

September 22, 2011 • Adam Looney, Michael Greenstone • Education, Employment & Wages

America’s workforce needs a strong education system to compete and research demonstrates the power of a good teacher to boost student achievement.  However, attracting and retaining effective teachers has become increasingly difficult, partly due to compensation.  Over the last forty years, salaries of teachers have declined when compared to other professions.  In the 1970s teachers made about 7 percent less than non-teachers, after controlling for education and other characteristics or about $3,800 per year. Over the last decade, that gap has increased so that teachers earn about 19 percent less than non-teachers—a difference of almost $11,000 a year. 

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