A new report by the Academy for the Mathematical Sciences (AcadMathSci), released on 22 October, shows that the mathematical sciences contributed an extraordinary £495 billion a year to the UK economy in 2023.
The report estimates that in 2023, 4.2 million individuals were directly employed in mathematical science occupations, ranging from engineers and computer programmers to financial analysts, statisticians, and actuaries: 13% of all employment in the UK. This employment occurs across a range of industries, including banking and finance, insurance, computing, pharmaceuticals, health and education, and is indicative of the growing demand for mathematical skills in the modern economy.
The Academy’s analysis further revealed that the economic productivity of workers in mathematical sciences occupations was 58% higher than the UK average, and that the mean average salaries of these people were 24% higher than the UK average.
This new report brings up to date a 2013 independent study commissioned by EPSRC and carried out by Deloitte.
Read a summary and find a link to the report at https://www.acadmathsci.org.uk/publications/mathsci-supercharges-uk-econ-growth/.
Ongoing work
The Academy’s President, Professor Alison Etheridge, has published a statement detailing other work the Academy has undertaken over the past few months. In addition to the above, the Academy’s education workstream is developing a response to the government’s Curriculum and Assessment Review, and is engaging with Scottish education experts to assess and guide the mathematics curriculum in Scotland.
The Academy is moving forward on the creation of a Fellowship, which will reflect the excellence to be found across the full breadth of the mathematical sciences community. Election to the Fellowship will come with a commitment to contribute to the work of the Academy, catalysing a much greater impact of mathematical expertise on policy and civil society.