What is the value of a job

The New Economics Foundation a UK think tank took a look at 6 jobs 3 high paying and 3 low income jobs and tried to figure out what is the social value of those jobs.

What the study found was was that the 3 high paying jobs they looked at actually created less value (and in some causes actually caused economic and social harm) then the low paying jobs.

here is a look at their findings

for the 3 high earning jobs (Bankers, Advertising executives, and Tax Accountants)

They found that bankers don't actually create wealth but for every pound (or about every $1.64 earned) they earn they actually help destroy 7 pounds (or about $11.42) in social value. This is pretty much due to banks role in the current economic crisis.

because Ad executives jobs are to get people to want something they cause people to be sad and over spend (which leads to stress) because of this the study says that for every pound ($1.64-ish) they make they actually take out 11 pounds (or about $17.94) out of the the social economies networth.

Tax accountants are bad because even though they save their clients money they take away money that could have gone to the government, so for every pound a tax accountant makes they actually take out £47 ($76.63) that could have been used by the government.

Looking at the three low paying jobs (Childcare Workers, Hospital Cleaners, and Waste recycling workers) they found out that these jobs actually created a lot more social value to the economy.

Everyone says the children are the futures and it shows with Childcare workers. For every £1 they earn they actually create £9.50/$15.50 in value for the economy and that is only looking at the fact they allow parents to keep working.

Hospital cleaning staff create £10 pounds (or about $16.31) for every £1 they get paid. The value they create is that by making hospitals clean they cut down on the spreading of diseases.

And finally Waste recycle workers help the environment and for making the world a cleaner place they create £12 (around $19.58) of economical beneficial value for every pound they make.

The study then goes beyond looking at those jobs and looks at the fact that we have been experiencing a widening gap in incomes between the rich and the poor and that there are now less middle class jobs.

They also give a few ideals of what can be done to make sure people actually get a better return from the value they create and those who are harmful pay a little more.