Public sector to axe 340,000 jobs
Job losses in the public sector are set to accelerate in the run up to the next general election, with a further 340,000 posts expected to be axed, according to a new study.
Economist Dr John Philpott said that on the current Office for Budget Responsibility projection, almost as many government jobs will be cut in the next two years as have already been lost since 2010.
Dr Philpott, director of The Jobs Economist, said the proportion of people employed in the public sector by 2018 was set to be lower than at any time since before the Second World War. He said: “If the OBR is right, almost half the pain of public sector jobs cuts expected in the current five-year parliament is still to be felt.”
A report, by workplace firm Regus, says almost half of firms were planning to recruit staff.