Job Issues

Sequestration could cost more than 1.4 million jobs next year, the Congressional Research Service said. The nonpartisan agency offers its prediction of the impact of the automatic budget cuts in a new report. Analysts studied estimates by the White House and outside groups. They said most of those job losses would result from a $48 billion cut to defense spending. But that 1.4 million figure includes much more than cuts to the federal and contract workforce. Researchers add in jobs at companies that supply those contractors and others that depend on federal employees or contractors to spend money.