725,000 public sector jobs to go by 2015

Posted on Wednesday, September 1st, 2010 by

The Chartered Institute of Personnel and Development has forecast that almost _ million (roughly one in eight) public sector jobs could be lost over the next four years. The gloomy prediction follows the release of employment figures by the Office of National Statistics which showed a drop of 7,000 public sector jobs in stark contrast to the increase of 12,000 private sector jobs over the same period. Whilst the Work Foundation thinks that the private sector could absorb about 500,000 jobs lost from the public sector, the think tank warned that if cuts were “too big and implemented too soon, the private sector will be swamped.” New job seekers and those with the least skills will find it hardest to be re-employed.