Huge jobs loss to follow public sector cuts
A million posts down the tubes as govt slims down
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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. ®
COMMENTS
Screw the little peeps, again and again ....
remarkable how those ultimately responsible for this mess, gubermint ministers, financiers and city dross aren't going to feel the pinch in the slightest, not those at the top of the pile anyway.
NO, it's not remarkable in the slightest - the majority at the bottom of the pile always end up paying the most, having the largest proportional tax burden etc etc.
All that sh*te from Mr G Brown about how wonderful it is that the price of your property keeps going up and you should really take advantage of it by borrowing increasingly unsustainable sums to fund the holidays, cars and home improvements that you know your neighbours are already indulging themselves in. The "we can make maths make the money" speak from the analysts and their hedge-fund bosses, it's all been enough to make me sick over the past ten years and more.
FFS, the private sector is the area most likely to gain from this mess and the cuts as more and more public services are put into their hands, where the drivers are profit and shareholders dividends, not the customer or service levels.
So do we have to take some of the blame ourselves then - having fallen for that old trick again, the bight lights and the adverts and the peer presure etc etc ? Will we never learn !
Or should those who are elected into office and are meant to represent us be brought down a peg or two and made to live lives closer to the coalface in order that they cannot escape the consequences of their actions quite so easily.
I know we need markets and capital - but there IS a way to achieve steady growth and think long-term, as opposed to just partying-on like there's no tomorrow. Or is that 'so' last century and not exciting enough for you.
Laslty, Mr & Mrs Smith's hard earned savings and pension have got to be spared the vagaries of the city banks excesses next time they screw up. They have to be isolated from further madmen's follies. Bring back the Victorian system of mutuals that's what I say.
$$ IF (var)=rant over THEN goto end
apologies for my blatherings - I'm having a bad day right now.
I have a better idea.
*Profits* can go down. The rich folk who spent several decades borrowing from the future can now pay that money back.
Alternatively, all the old twats who ruined my future so they could have a slightly more luxurious present could be put out on the street. They can then come face to face with /EXACTLY/ what my generation thinks of them. I can’t wait until my generation is in power, because I promise you old age security will be the /first/ thing I vote to be cut.
Unlike supporting my grandfather’s generation – folks who truly contributed to society and tried to leave the world a better place then they found it – my parents’ generation decided they didn’t have enough and so had to reach into the future to steal resources from mine. I have nothing but contempt for the entire lot of them. Greedy bastards every one. I can only hope that my generation will not only be able to cope with this legacy, but repair some of the damage so as to leave the world a better place for our children, and their children yet to come…
Off the private payroll, onto the public payroll - unemployment
It's all an illusion. Unemployed civl servants stay on the public purse, and the private sector layoff's get to join them.
You should also remember that a lot of 'work' formerly done by government employees was switched to the private sector so a form of balancing is taking place. The wonders of government maths.
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