Skills for Care was the first organisation to commission research into the economic value of adult social care in England and regularly update it.
For this most recent project Skills for Care and Development commissioned Alma Economics to analyse the adult social care sector’s economic and social value in the UK as a whole and in each of the four nations using data from 2022/23.
It’s used to inform the economic case for investment in the social care sector and its workforce in the UK as a whole (as well as having national breakdowns). It’s also used to inform policy-making and national spending review decisions on investment.
The total direct, indirect, and induced value of the adult social care sector in England was £60.2 billion.
The socioeconomic benefits of the adult social care sector in England were £265 billion, while the costs were £110 billion (2023). This means that for every £1 spent in the sector, there was £2.40 in socioeconomic benefits.
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Download the report into the economic and social value of the UK adult social care sector in 2023. Research undertaken by Alma Economics and prepared for Skills for Care and Development.
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Download the summary report into the economic and social value of the UK adult social care sector in 2023. Research undertaken by Alma Economics and prepared for Skills for Care and Development.
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See a visual representation of the economic value of the social care sector using data from 2023 and 2024.
NB It is important to note that the findings are not necessarily comparable [with previous reports] due to differences in (i) data; (ii) methodology; and (iii) other external factors. As a result, we cannot [Alma Economics was unable to] comment on the causes of any changes in figures since 2016, since these are not necessarily attributable to the sector itself
The state of the adult social care sector and workforce in England report 2024 uses this data in section 1.3 - 'Economic contribution' of the report.
Economic and social value of the UK adult social care sector: national breakdown
To view the economic and social value of the adult social care sector reports for each of the devolved nations in 2023, please visit the Skills for Care and Development website.