Every dollar in social jobs to return 2.3 times

Davos: Making a strong pitch for investing in social jobs, the World Economic Forum on Thursday said every dollar of investment in such jobs can generate a multiplier effect of 2.3 times the initial capital.

Investing in education, health and care jobs can yield a triple dividend -- boosting economic activity, expanding employment opportunities and generating social mobility, according to a new report published by the WEF on the last day of its Annual Meeting 2022.

New modelling of the United States economy suggests that investing one dollar in social jobs would yield a USD 2.3 return.

The model estimates that USD 1.3 trillion in the social jobs of tomorrow could unlock USD 3.1 trillion in GDP returns and create 11 million jobs by 2030.

These jobs include 4.2 million teaching jobs, 1.8 million jobs for personal care and service workers, and 900,000 jobs in healthcare.