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Spending cuts put one million jobs at peril

The most number of job-losses will be concentrated in London, the South East and the North West, acc

Close to one million people are expected to lose their jobs over the next four years as a result of the Coalition's spending cuts, reveals a report by PricewaterhouseCoopers (PwC) on Wednesday.

According to the report, reduced state investment in infrastructure projects like schools, hospitals and roads coupled with termination or non-renewal of existing contracts will make 500,000 jobs in the private sector redundant.

Another 500,000 job-losses are expected from the public sector, as departments are forced to reduce their budgets and lay off employees. These include school teachers, policemen, civil servants and town hall employees.

A breakdown of the figure indicates 180,000 redundancies in the business services and over a 100,000 in construction. 51,000 lay-offs are expected in the manufacturing sector. 47,000 jobs will be lost in the transport and communications, 25,000 in hotels and catering and 11,000 in financial services.

Regionally, the most number of job-losses will be concentrated in London, the South East and the North West, the reports says.

"Predicted levels of public and private sector job losses will be a drag on the pace of the economic recovery, but should not derail it altogether," said PwC chief economist John Hawksworth.