School was less common at that time, but plenty of people went to school, and if there was a marked dropoff in employablility even in just that group, it should absolutely be visible.
Based on statistics and records from over a 100 years ago in an industrial economy ?
https://raogk.org/census-record/wp-content/uploads/sites/3/2...
Here's a tax return form from the same year:
http://www.taxhistory.org/thp/1040forms.nsf/WebByYear/1920/$...
I'm hugely skeptical of our education system today with all the standardized and focus-busting largely irrelevant curriculums. Also the sleep deprivation can't be any good. Personally kids have thrived away from the classroom but maybe we're unusual.
On the other hand, imagine being a first grader, unable to write or read, just coming from kindergarten, where most of the time was play-time, and due to something, you can't comprehend, you're put infront of a laptop with Zoom turned on, and your parents in a huge financial crisis suddently.