Wednesday, 13 October 2010

Economics for Sickies 2

Following on from the previous post on the economy, a report today suggests that not only will nearly a million jobs be lost in the public sector as a direct result of the government's cuts, but that the private sector won't suddenly spring into life to take up the slack - far from it. Accountancy giant PwC conclude that up to 500,000 more jobs will be lost in the private sector as the cuts start to hit.

So that's 1.5 million recently employed people in the queue before anyone shoved off of ESA or Jobseekers.

As the days go by, it seems more and more likely that the coalition's plans for the economy are based on little more than hope.

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