My guess is it stands for 40% (per cent). Not that very common, I would say.
"Employers, particularly smaller businesses, understandably value experience when selecting staff, leaving young people in a catch-22 situation – no experience, no job; no job, no experience. And trends in education aren’t helping - the proportion of 16- and 17 year-olds combining full-time study with part-time work has halved, from 40pc in the late 1990s, to around 20pc today."
More: What young people need more than anything is work experience - Telegraph
What does "40pc" stand for?
My guess is it stands for 40% (per cent). Not that very common, I would say.
Please be aware that I'm neither a native English speaker nor (at present) a teacher.
This is not used in AmE.