Thursday, 16 December 2010

Public sector cuts hit unemployment figures

Unemployment in the UK has edged over 2.5m as the impact of Government cuts since the election starts to sink in. It's going to get worse as the implications of the local authority cutbacks takes effect and this begs the question: where is this private sector-led recovery going to come from if the consumers haven't got any money?

There are a few important figures to consider. 33,000 jobs were cut within weeks of the Government coming to power. That's before any budget announcements or formal spending reviews. One in six employees in the UK is employed by the public sector, which is a total of 6m.

That's a lot of people feeling very insecure about their jobs right now. Let's assume things get a little better and fewer jobs are cut than feared - the lack of confidence is still going to hit people's spending plans.

  By Courtesy of AOL

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