Public Schools in the US Industry Market Research Report from IBISWorld has Been Updated
Los Angeles, CA (PRWEB) July 15, 2013 -- Given public schools' reliance on government funding, institutions in the Public Schools industry were unable to avoid state government budgetary problems that began during the recession. Over the past five years, state government education funding has declined at an annualized rate of 1.5%. “The Recovery Act of 2009 partly stemmed the fall by allocating federal aid for education,” IBISWorld industry analyst David Yang says. However, the bulk of federal stimulus aid expired in 2012, and the baseline federal education funding was not enough to shield the industry from its financial shortcomings. That year, revenue declined 1.5%, causing many school districts to operate at a loss. Though state budget deficits are expected to narrow in 2013, most states will likely continue making cuts in education, according to the Center of Budget and Policy Priorities. Over the five years to 2013, revenue is expected to moderately decline at an average annual rate of 0.4% to $616.0 billion, including a 0.7% decline in 2013.
The Public Schools industry comprises more than 90.0% of total US elementary and secondary school enrollment. In 2013, over 50.0 million students are expected to attend 99,659 public schools. “While federal government funding has been strong, state and local government budget problems have caused districts to consolidate to reduce costs,” Yang says. In the five years to 2013, the number of public school districts (enterprises) is anticipated to decline at an annualized rate of 0.7%. Charter schools, on the other hand, have grown in popularity due to favorable government policies.
Public elementary and secondary schools are widely dispersed across the United States because every state has mandatory education requirements. Government funding is dependent on student numbers, geographic location, facilities provided and other criteria. No single school district dominates public education and industry concentration is low. In 2013, the two largest systems of public schools are the New York City Department of Education and the Los Angeles Unified School District.
Still, as state budget deficits narrow over the five years to 2018, state education funding is projected to steadily recover. The federal government is anticipated to continue its strong support for public schools. As funding grows, IBISWorld forecasts that revenue will increase. For more information, visit IBISWorld’s Public Schools in the US industry report page.
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IBISWorld industry Report Key Topics
The Public Schools industry includes elementary and secondary schools supported by government funds to provide free education for a community or district's children from kindergarten through grade 12. Public schools all operate on a nonprofit basis.
Industry Performance
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
Products & Markets
Supply Chain
Products & Services
Major Markets
Globalization & Trade
Business Locations
Competitive Landscape
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
Major Companies
Operating Conditions
Capital Intensity
Key Statistics
Industry Data
Annual Change
Key Ratios
About IBISWorld Inc.
Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.
Gavin Smith, IBISWorld, 310 866 5042, [email protected]
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