Report shows real value of public service workers

A new study by the New Economics Foundation (NEF) challenges the way jobs are valued in the labour market and uncovers the additional social and environmental value of key public service jobs such as hospital cleaners, childcare workers and waste and recycling workers. The NEF contrasts the positive social and environmental contributions of these jobs with the negative impact of top bankers, advertising executives and tax consultants. According to NEF calculations while collecting salaries of between £500,000 and £10 million, leading City bankers destroy £7 of social value for every pound in value they generate. In contrast, for every £1 they are paid, childcare workers generate between £7 and £9.50 worth of benefits to society. The report challenges a series of myths about pay as well as the idea that the private sector is more efficient than the public sector. [Read more at > NEF (EN)->]