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UK: 1million people to lose jobs in public sector spending cuts
A report by Pricewaterhouse estimates that impending government spending cuts will see 500 000 people lose their jobs in the public sector, with the same total being affected in the private sector. This would equate to 1 in 20 people in the UK losing their jobs in the next four years.
The report also predicts that the private sector will create 1 million jobs compared to the 1.6million predicted by the Office for Budget Responsibility in June.