That is the figure put on the value of the nanny sector within the childcare market - which is worth 3.79bn overall - in a report published last month by market analysts Key Note. Researchers arrived at nannies' value using a complicated calculation involving estimated numbers of nannies, children and working mothers in the UK, and the average costs of a nursery place against the average salaries of nannies.
Meanwhile, next month the National Minimum Wage goes up - to 4.10 an hour for workers aged 18 to 21 and 4.85 an hour for those aged 22 and over, with a new rate of 3 an hour for 16- to 17-year-olds.
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