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Report: GMU Professor Claims Sequestration Equals 155K Lost Jobs

Report: GMU Professor Claims Sequestration Equals 155K Lost Jobs - top government contractors - best government contracting event

Report: GMU Professor Claims Sequestration Equals 155K Lost Jobs - top government contractors - best government contracting eventAccording to an economist from George Mason University, sequestration could result in massive job cuts in Washington D.C., Northern Virginia and Maryland, Government Executive reports.

George Mason University regional analysis director Stephen Fuller said that the automatic budget cuts could result in 65,000 federal workers and 96,000 contractors losing their jobs.

According to WTOP, 20 percent of the federal payroll and procurement money goes into the Washington economy every year.

There are experts and organizations who also say that industry is overstating possible job losses, such as the Project on Government Oversight.

Ben Freeman of POGO, said that there is an overreaction to what sequestration could mean for industry, and that the contracting workforce is not necessarily linked to the federal budget considering there have been layoffs during boom periods.

The Labor Department recently issued a memo saying that defense contractors aren’t required to send layoff notices pursuant to the WARN Act, should sequestration push through.

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Written by David J. Barton

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