Summary:
At the end of 2011 it is predicted that unemployment will rise by 200.000 to 2.7 million, adding pressure to delay the most severe cuts in public spending since the second world war. The cutbacks will depress the economy and force employers to restrict pay rises. The risk for 2011 is that the government will cut jobs faster in the public sector than the private sector can create new ones, this is dangerous because it will result in a bigger unemployment rate. The construction and business services which recovered strong earlier in the year have stalled and the exports have grown but at the cost of a weaker pound, but economists say problems in Ireland and slower growth across Europe will restrict this export growth in 2011.
Opinion:
I understand that predictions are only predictions. But if they think unemployment in the public is going to rise which will cause a bigger economic depression than they should not think about cutbacks but focus on how to move those jobs to private sectors. They should at least try to come up with a solution instead of falling back to cutbacks and letting people go.
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