Incredibly only 1 million of UK (The United Kingdom of Great Britain and Northern Ireland) jobs depend on physics according to the institute of physics (IOP) IOP – One million UK jobs depend on physics. This seems an incredibly low number, they must have very stringent criteria about what counts as physics. This headline produced from a report that was conducted with auditors Deloitte (Deloitte Touche Tohmatsu Limited).
The IOP try to differentiate jobs which rely on “the physics base” or need employees with an advanced understanding of physics, and says employees in these physics-based businesses add to the UK economy is almost double that of the average UK employee. With a Gross Value Added (GVA) of £70,000 compared to the average of £36,000.
This should mean that these physicists make up 4% of UK employees, and their added value is (70,000-36,000)*1 million = 34,000 million
or 34 trillion pounds or 0.034 trillion pounds. This compares to GDP of $2.480 trillion $2480 trillion (2011 – wikipedia) 2.4 trillion (2012 – google world development indicators).
Article updated on 27 Oct 2012