Study says hospital cleaners worth far more to society than bankers

British study evaluates the real contribution of various jobs to society.

Ottawa (15 Dec. 2009) - Hospital cleaners are worth more to society than bankers, concludes a study carried out by the New Economics Foundation, a British think tank.

While cleaners create £10 of value for every £1 they are paid (£1 equals $1.73 Cdn), bankers have caused so much damage to the global economy that they actually wipe out £7 of value for every £1 they collect, the study concludes.

Meanwhile, advertising executives "create stress" because they are responsible for campaigns that contribute to dissatisfaction and misery and encourage over-consumption, the foundation adds.

Likewise, it says tax accountants hurt the economy severely by devising schemes that cut the amount of money available to the government. They destroy £47 in value for every £1 generated, the research suggests.

On the other side of the ledger, along with hospital cleaners, workers such as those engaged in child care and waste recycling actually create net wealth and benefit society, the study says.

The foundation used a new form of job evaluation to calculate the total contribution various jobs make to society, including for the first time the impact on communities and the environment.

"Pay levels often don't reflect the true value that is being created," says Eilis Lawlor, a spokesperson for the foundation. "As a society we need a pay structure which rewards those jobs that create most societal benefit rather than those that generate profits at the expense of society and the environment."

NUPGE

The National Union of Public and General Employees (NUPGE) is one of Canada's largest labour organizations with over 340,000 members. Our mission is to improve the lives of working families and to build a stronger Canada by ensuring our common wealth is used for the common good. NUPGE

More information:
A Bit Rich - Calculating the real value to society of different professions - pdf