UNBRIDLED GREED: Government Workers Make 78 Percent More Than Private SectorPosted: October 8, 2015 Filed under: Crime & Corruption, Economics, Mediasphere, Politics, Think Tank | Tags: American Public Transportation Association, Cato Institute, Central bank, DEBT, George Washington, Government debt, Monetary policy, Soviet Union, Thomas DiLorenzo, United States Leave a comment
Elizabeth Harrington reports: Employees for the federal government earn far more than their counterparts in the private sector, according to a new study by the Cato Institute.
“Since the 1990s, federal workers have enjoyed faster compensation growth than private-sector workers…The federal government has become an elite island of secure and high-paid employment, separated from the ocean of average Americans competing in the economy.”
Federal workers’ pay and benefits were 78 percent higher than private employees, who earned an average of $52,688 less than public sector workers last year.
The study found that federal government workers earned an average of $84,153 in 2014, compared to the private sector’s average of $56,350. Cato based its findings on figures from the U.S. Bureau of Economic Analysis (BEA).
But when adding in benefits pay for federal workers, the difference becomes more dramatic. Federal employees made $119,934 in total compensation last year, while private sector workers earned $67,246, a difference of over $52,000, or 78 percent.
[Read the full story here, at Washington Free Beacon]
“Since the 1990s, federal workers have enjoyed faster compensation growth than private-sector workers,” according to the study, written by Chris Edwards, the director of tax policy studies at Cato. “In 2014 federal workers earned 78 percent more, on average, than private-sector workers. Federal workers earned 43 percent more, on average, than state and local government workers.
“The federal government has become an elite island of secure and high-paid employment, separated from the ocean of average Americans competing in the economy,” the Edwards wrote.
The report noted that 2.1 million people work for the federal government, costing over $260 billion in wages and benefits this year….(read more)
Source: Washington Free Beacon
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