Record cuts as job market worsens

It has been revealed that a record number of public sector jobs were lost between March and June in the largest cull of the State workforce ever recorded.

Around 110,000 state workers lost their jobs during the period, and the problem looks likely to get even worse as the Government continues its public sector cutbacks.

Nida Ali, economic adviser to the accountant Ernst & Young’s Item Club, told the Mail Online: “The labour market has turned for the worse. There is no good news in the figures.”

It appears that women are likely to be hardest hit, with 450 a day becoming jobless, according to figures from the Office for National Statistics (ONS).

The number of job vacancies also seem to be falling – the figures show that there are 5.6 unemployed people for every new job.

Joanna Elson, chief executive of the debt charity Money Advice Trust, said: “A family can be managing their household budget just fine until unemployment brings a sharp drop in income.” The charity highlighted that one in eight people experience ‘serious debt problems’ after losing their job.

The ONS revealed the number of women forced into part-time work has also risen, to an all-time high of 701,000.

Categories; Current UK Economy, Job loss,