Volume 1 Number 2
January 12, 2004








 

 

 
 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

   

   

 

 

 

 


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


FLORIDA'S EMPLOYERS RECOGNIZE NEED FOR
FINANCIAL LITERACY


TALLAHASSEE—Ninety-three percent of Florida's employers agreed that entry-level employees who have an understanding of basic economic principles learn on-the-job skills more easily and are more likely to be productive at work. However, only 14 percent of those same employers believed their entry-level employees understood basic financial principles prior to joining their company.
Florida’s Chief Financial Officer Tom Gallagher, commenting on a recent survey issued by the Florida Chamber of Commerce and The Florida Council on Economic Education, said the survey points to the need for economic education to help prepare young adults to enter the workforce.

“With many young people entering the workforce immediately after high school, we need to equip them with the necessary skills to be successful in their jobs, in the community and at home,” said Gallagher. “Financial education can help steer our economic futures – as individuals and as a state – and the road to financial literacy begins in our schools.”

Among 1,000 Florida employers polled, 64 percent said that they feel worker productivity would be enhanced by financial literacy training. Further, 83 percent of employers believe that financial literacy education will help prepare future employees for the workplace and 96 percent agreed that financial literacy education is important in Florida’s K-12 curriculum.

“By teaching students basic economics, we are investing in the success of Florida’s economy,” said Dr. Zach Zachariah, chairman of the Florida Council on Economic Education. “Financial literacy is essential in boosting the productivity of our workforce.”

Gallagher, who oversees the Department of Financial Services, is partnering with the Florida Council on Economic Education to help expand financial literacy programs in Florida’s public and private schools.

Since 1975, the Florida Council on Economic Education has sought to improve students’ financial literacy through programs such as Strive to Drive and Stock Market Simulation. These programs, and the results of the survey, can be viewed on the Florida Council’s website at www.fcee.org or as a link to this release at www.MyFloridaCFO.com.