Thursday, 11 March 2010

UK jobs - let's do the math

The chief secretary to the treasury has just announced that they plan to reduce government spending by 38 billion pounds per year, by 2014. Let's assume that each government job corresponds to a spend of £35,000 (admittedly a bit of a wild guess). Now 38,000,000,000 divided by 35,000 is 1,085,714 or approximately one million. That's one heck of a lot of jobs to be found elsewhere in the economy!