Feeds

Huge jobs loss to follow public sector cuts

A million posts down the tubes as govt slims down

High performance access to file storage

Half a million private sector jobs are likely to be lost as a result of public sector spending cuts.

Predicted public sector cuts could mean 186,000 fewer jobs in business services and 47,000 fewer people employed in transport and communications. Add to that job losses from the construction, manufacturing and hospitality sectors and there are altogether 468,000 job losses predicted for the private sector.

The numbers, from PricewaterhouseCoopers (PwC), predict a knock-on impact from government cuts of 3.4 per cent, or 943,000 jobs - a figure which includes both public- and private-sector job losses.

Losses will be worst in Northern Ireland, which will lose 5.2 per cent of total jobs. In Wales, 4.3 per cent of employed people are predicted to lose their jobs and Scotland will shed 4.1 per cent of posts.

John Hawksworth, chief economist at PwC, said: “The business services sector faces the largest impacts in absolute terms with a potential output loss of around 4 per cent and around 180,000 job cuts due to reduced public sector demand in current areas of operation."

Hawksworth said there were some suggestions of the Coalition blurring lines between private and public sector, which might mitigate the job losses. More from PwC here. ®

High performance access to file storage

More from The Register

next story
Android engineer: We DIDN'T copy Apple OR follow Samsung's orders
Veep testifies for Samsung during Apple patent trial
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
Did a date calculation bug just cost hard-up Co-op Bank £110m?
And just when Brit banking org needs £400m to stay afloat
One year on: diplomatic fail as Chinese APT gangs get back to work
Mandiant says past 12 months shows Beijing won't call off its hackers
German space centre endures cyber attack
Chinese code retrieved but NSA hack not ruled out
EFF: Feds plan to put 52 MILLION FACES into recognition database
System would identify faces as part of biometrics collection
Big Content goes after Kim Dotcom
Six studios sling sueballs at dead download destination
Ex-Tony Blair adviser is new top boss at UK spy-hive GCHQ
Robert Hannigan to replace Sir Iain Lobban in the autumn
Alphadex fires back at British Gas with overcharging allegation
Brit colo outfit says it paid for 347KVA, has been charged for 1940KVA
Jack the RIPA: Blighty cops ignore law, retain innocents' comms data
Prime minister: Nothing to see here, go about your business
prev story

Whitepapers

Securing web applications made simple and scalable
In this whitepaper learn how automated security testing can provide a simple and scalable way to protect your web applications.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
HP ArcSight ESM solution helps Finansbank
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Mobile application security study
Download this report to see the alarming realities regarding the sheer number of applications vulnerable to attack, as well as the most common and easily addressable vulnerability errors.