100,000 Federal Jobs Will Be Cut If Sequestration Continues in FY14 -- Goldman Sachs Reports
A September 10 report released by Goldman Sachs predicts the loss of 100,000 federal jobs between August 2013 and August 2014 if sequestration continues. 71,000 federal jobs were cut during the same time period from 2012 to 2013.
The report says that furloughs allowed agencies to avoid large workforce reductions in 2013, but that reductions in force will be necessary in 2014 if Congress does not reverse sequestration.
"Many federal agencies have employed temporary strategies to adjust to sequestration this year, such as employee furloughs and deferral of maintenance and training, with the hope that sequestration would ultimately be reversed," the report states.
The report continues, "If sequestration continues, more permanent adjustments will become necessary and agencies may be more willing to undertake them if Congress declines once again to reverse the cuts."
To access the Goldman Sachs report, click here.
Posted in General News