Norfolk redundancy risk ‘could be set to increase’

Posted 06/01/2010

Employees in Norfolk could find themselves threatened by an increased redundancy risk over the coming months, according to an expert.

Dr Jerome Healy, lecturer in finance and financial management at the University of East Anglia, has suggested that the recession could continue into a “second leg” which will lead to further job losses.

He told the Eastern Daily Press that although current indicators show an easing of the economic downturn, the governmental deficit nevertheless remains unusually high.

Dr Healy stated that attempts to rebalance this debt in the aftermath of the coming general election will pose a significant danger to many of those in employment.

He said: “If they do that seriously, it will mean a lot of money is taken out of the economy and job losses in the public sector.”

According to figures published last month by the Trades Union Congress, 201,105 people were unemployed and claiming benefits at the end of last year, almost double the figure recorded in December 2008.