In his weekly address to the nation, U.S. President Obama stressed the need for raising the standards of education system. Obama said the students in U.S. are sliding against their peers around the globe.
"countries who out-educate us today will out-compete us tomorrow. Businesses will hire wherever the highly-skilled, highly-trained workers are located".
In U.S, as many as a quarter of students aren't even finishing high school. The nation has fallen to 16th in the proportion of young people with a college degree.
Obama said the nation has an obligation to make sure that all children have the resources they need to learn.
"That's why the jobs bill I sent to Congress would put tens of thousands of teachers back to work across the country, and modernize at least 35,000 schools. And Congress should pass that bill right now", President said.
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May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.