The number of people employed in the reserved public sector decreased by 26,200 (31.4%) to 57,300 in Q4 2014. The large decrease in reserved public sector employment was mainly the result of the National Accounts reclassifications of Lloyds Banking Group plc., Royal Mail Group plc. and Direct Line Group to the private sector. The estimated reserved public sector excluding the effects of the major reclassifications would have decreased by 3,000 (7.2%) from 47,000 in Q4 2013 to 43,000 in Q4 2014.
Employment levels in all categories of the reserved public sector, except for public bodies, have decreased over the year:
Reserved Civil Service down by 2,200 (8.1%);
Public Corporations & Public Sector Financial Institutions[4] down by 23,100 (64.9%);
Armed Forces down by 1,100 (10.4%); while
Public Bodies increased by 300 (2.7%).