Today sees the launch of a new independent report by Europe Economics, “The Economic Impact of the Work Programme”, as commissioned by ERSA, the sector body for employment support.
The report, marking the third anniversary of the scheme, looks at the true economic impact of the Work programme and the social value it adds to employers, workers and taxpayers. This is part of the wider, long-term Proud to Work awareness campaign which puts the spotlight on employers who have participated and employees who have benefitted from the scheme.
- Around 300,000 workers have found lasting work while on the Work Programme
- £18bn of value will be delivered to the economy over the lifetime of the workers on it who would not have otherwise found work. Of the £18bn total: £7bn will be delivered to workers, £7bn will be delivered to the government, £4bn will be delivered to employers.
- An estimated 100,000 people currently on the Work Programme would not have found work without being on it.
- Workers benefit through their wages by an average of £140 million-a-year between 2011 and 2059.
- The government benefits by an average of £140 million-a-year in tax income and a reduction of benefit pay-outs between 2011 and 2059.
- Employers benefit by an average of £80 million-a-year in additional productivity and profit.
The report can be access in full here.
We are delighted to be part of adding value to the economy through professional, tailored support for individuals back into employment and also contribute to the wider Proud to Work campaign. Stay up to date with the campaign here and find out why our employers and jobseekers are proud to work by subscribing to our YouTube channel.