One million UK jobs depend on physics, report reveals

Oct 18, 2012
One million UK jobs depend on physics

A new report from the Institute of Physics (IOP) shows that 4% of employees in the UK work in companies that would not exist without the physics base, or without employees that have an advanced understanding of physics.

Dr Frances Saunders, incoming President of IOP, said, "It's too easy to overlook the contribution that physics makes to the economy.  From the number of jobs it creates to the value it adds, this report shows how much physics has to offer to our ."

Physics-based businesses employ more than one million people in the UK, creating a greater number of jobs than both the finance, banking and insurance sector and the construction sector. 

Additionally, the value that employees in physics-based businesses add to the is almost double that of the average UK employee; in 2010, the Gross Value Added (GVA) by the average employee was £36,000, while the average employee in a physics-based business contributed approximately £70,000.

Looking at physics-based businesses' contribution to the from 2005-2010, while employing 4% of the country's workers, these businesses provided, on average, 8.5% of our national GVA (analogous to , or ) each year.

The report, produced in collaboration with Deloitte, assesses physics-based businesses' contribution over the years 2005 to 2010 (the most recent years from which data is available) and, as such, can be used to assess the effect of 2008's on physics-based businesses.

The total number of registered businesses in the physics-based sector has risen since 2005 by more than 30%, showing that physics has an important role in emerging sectors of the economy to help drive economic recovery,

Dr Saunders adds, "Physics-based businesses have the potential to pull us out of but they need focused support through more ready access to capital and innovative public procurement."

Oxford Instruments, a FTSE250 company with an annual turnover of £337 million, is a leading provider of high-technology tools and systems to academic, research and industrial markets.

The company's Chief Executive, Jonathan Flint, says that "100% of our revenue is dependent on the physics discipline.

"Physics can play an integral part in recreating an economy that we can all be proud of."

What is a 'physics-based' business?

A challenge in the production of the report was identifying which sectors can be classified as 'physics-based'; technology gifted by physics underpins a wide range of businesses – from Tesco's checkout to Curry's flat screen televisions, lasers and LEDs wouldn't exist without physics. 

Tesco's and Curry's, however, would not have been included in the analysis as IOP and Deloitte agreed that 'physics-based' businesses would only refer to those businesses that would be unable to exist without ability to respond and adapt to latest advances in research.

Explore further: Thermoelectric power plants could offer economically competitive renewable energy

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johanfprins
1 / 5 (3) Oct 20, 2012
How the hell is this possible? During the past 10 years I have been unable to interact with a SINGLE UK physicist who knows more physics than a kindergarten child. Some of them have fortunately died off, like Brian Pippard and Marshall Stomeham. But there are still too many of them alive, like Brian Josephson and Peter Holland. How can any country depend on physics if it has such idiots in charge of physics?
antialias_physorg
5 / 5 (3) Oct 20, 2012
How the hell is this possible? During the past 10 years I have been unable to interact with a SINGLE UK physicist who knows more physics than a kindergarten child...

If your interaction with people on this forum hasn't made it amply obvious to you then maybe the very fact that you react like this might finally give you a clue: it is you who have no understanding of physics - not them.
ValeriaT
1 / 5 (4) Oct 20, 2012
This report just makes the origin of rock-steady ignorance of the cold fusion findings way more understandable: because the energetic research is already strategical research, most of these jobs are connected with research of various methods of energy production/conversion/transport and storage (from geology over solar/wind plants to battery research). If the cold fusion finding would remove the need of just one half of physicists engaged in this research, then we are facing army of 500.000 highly qualified people, who would need to find another job. All these people would prohibit the implementation of cold fusion as a single man. You can observe here easily, how this negativism manifest itself: all findings, which could increase the employment in physics are welcomed heartily here - but just the findings which would be most useful for the rest of human civilization (i.e. not just for close group of physicists) are ignored and their supporters are systematically downvoted here.
johanfprins
1 / 5 (2) Oct 20, 2012
If your interaction with people on this forum hasn't made it amply obvious to you then maybe the very fact that you react like this might finally give you a clue: it is you who have no understanding of physics - not them.
Then why do they not sue me? I would like to take them under cross-examination in a court of law; preferably in the Court for Crimes against Humanity.

There are many more of these criminal physics-scoundrels around: eg. Ulrich Eckern. Heinrich Saller, Frank Wilczek, Gerardus 'tHoofd, Archie Campbell, Mikita Toyama etc. etc. etc.

Please, in the interest of the future of physics I challenge these destroyers of rational thinking to SUE ME!!!

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