"If we fail to act now to improve economic literacy in this province, our children will be at risk for crippling personal debt, costly decisions at work and at home, and lack competitive skills in a fast-paced global economy." - Jay Ball, President Junior Achievement

1.0 The NEED for an Educated Workforce.

FACT: Completing high school is a critical step for young people to create a positive future for themselves, their families and their communities. For Alberta youth, an education means opportunity. Yet right now in Alberta, one in four high school students in Alberta do not graduate within 3 years of entering High school and less then one in five graduate within five years.

2.0 The NEED for Workforce Preparation.

FACT: More than 40% of Canadians indicated that schools are below their expectations with respect to preparing students for work.

Recently, the Canadian Council on Learning asked Canadians about the various aspects of schooling and whether the schools with which they are personally familiar are meeting their expectations in those areas. In most respects, a majority of Canadians believe that schools are meeting or exceeding their expectations, but Canadians do express some dissatisfaction.

3.0 The NEED for Economic Education.

FACT: There is no more thorough way to educate young people than by using a practical application of knowledge in the academic curriculum.

The main underlying goal of Junior Achievement to promote economic and financial literacy among Alberta students by increasing students’ knowledge of, and achievement in, economics to enable them to become more productive and informed citizens. The best intellectual learning occurs in a context that illustrates its practical value. JA’s programs give students the opportunity to combine practical applications with the general principles they learn in the classroom. With the great opportunities facing our economy, Alberta youth need to explore the free enterprise system and enhance their personal economic literacy. Understanding topics such as these is necessary for prospering in adult life. JA programs are a genuine opportunity for students to apply their classroom knowledge to their lives apart from school. We at Junior Achievement believe that when children are allowed to experience the benefits of combining knowledge with hard work the probability for personal hope and inspiration is greatly increased.

4.0 The NEED for Financial Literacy.

FACT: According to the National Council on Economic Education, only 26% of individuals between the ages of 13 and 21 reported that their parents actively taught them how to manage money; the majority of university & college seniors have 4 or more credit cards, and the average post secondary student carries a balance of $3,000; one in every 10 students has more than $7,000 of debt; and many students pay more in interest on their credit cards than on their student loans.

An understanding of a basic checking and savings account may have been sufficient for past generations, but children now need a broader range of knowledge about concepts like compounding interest and debt to earnings ratio to make sound financial decisions. Recent Canadian trends in consumer financial conditions are disturbing. With household debt and personal bankruptcies on the rise, financial illiteracy may be one of the greatest challenges that face the next generation. According to Junior Achievement Worldwide (JAW), high school graduates possess very little knowledge about personal financial skills.