Up to 100,000 public sector jobs could be lost over the next 5 years
The cost-cutting decisions announced in the UK Government’s recently released autumn statement could lead to up to 100,000 public sector jobs being lost over the course of this parliament, analysts have warned.
Sebastian Burnside, a senior economist at RBS, believes there are still large job losses to go across the public sector, despite it employing 17.2 per cent of the total workforce – its lowest share since records were first started in 1999.
He said: “UK-wide, the public sector has seen job losses of 8 per cent over the last five years, but London has shed jobs at half that rate, losing just 4 per cent of its employees. Part of the reason for London getting off lightly is that all the job-shedding has been done by local government in the last four years.”
Other sources suggest the scale of public sector job losses will be even greater – with the Office for Budget Responsibility (OBR) forecasting that public sector employment could fall by as much as 400,000 by the end of the decade. Some 450,000 people have lost their job since the public sector workforce peaked at 5.7 million back in 2009.
According to the OBR, there will be just one million new jobs created to mop up public sector job losses – half the number that were created in the previous parliament.
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