I can say with great confidence that government bureaucrats are overpaid compared to people in the productive sector of the economy.
Why am I sure that this is true, particularly when the so-called Federal Salary Council claims bureaucrats are underpaid?
For the simple reason that the “job opening and labor turnover” data from the Department of Labor is the best way to measure whether a group of workers is overpaid or underpaid.
And you probably won’t be surprised to learn from this data that bureaucrats at the federal, state, and local level are only about 1/3rd as likely to quit their jobs as workers in the private sector.
They’re less likely to leave their jobs, needless to say, because they generally get paid more than they’re worth.
But just in case you think this data is unconvincing, let’s look at some additional research.
Sita Slavov of the American Enterprise Institute explores this topic in an article for U.S. News & World Report.
Today, at 11:20 AM PT: Get the Market Movements in Advance; Williams Edge Webinar for August 20th, 2014 | John Ransom
Today, at 11:20 AM PT: Get the Market Movements in Advance; Williams Edge Webinar for August 18th, 2014 | John Ransom