Public sector salaries has long been ahead of the private sector.But what is the total price of a public sector employee?
At least since 2004, state and local employees have cost 46% more to employ than their private sector peers on average.
In Q4 2011, it cost $28.57 to pay a private sector worker salary, wages and benefits.
A public sector worker? $40.90.
According to data released today by the Bureau of labour Statistics, the greatest difference is between government versus private benefits. Total benefits, including retirement, social security and medicare costs $14.16, while in the private sector benefits cost $8.43.
Retirement alone costs 234% more for public workers.
It’s not exactly apples and oranges, since the private sector data includes the cost of employing food service ($11.18), hospitality ($12.14) and retail ($17.48) workers.
Still, nice work if you can afford it.
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