TLP: Gives A Whole New Meaning To "Public Service"
How's your healthcare? Premiums probably haven't gone anywhere but up lately, right? You do know you're paying for someone else's healthcare, too, don't you? And retirement benefits. Savings. Salary. Vacation. And for all that, you get state and local government service. Unless, of course, it's "Furlough Friday."
It costs about $12 more per hour to employ a state or local government worker versus a private sector employee, the Labor Department said Wednesday.Something else to think about, or not, next time you check your stub.
Employers spent $39.81 per hour worked for state and local government workers in the first quarter compared to $27.73 per hour for those with private industry jobs. The numbers are part of the Labor Department’s quarterly series on employer costs for employee compensation and they wrap in wages and salaries as well as health benefits such as health insurance and retirement packages.
The largest share of the costs comes from wages and salaries for both sets of workers: 70.6% for private employees and 65.9% for government workers. The rest of the payment comes in the form of benefits.
It costs state and local governments $3.16 per hour to pay for employees’ retirement and savings plans, compared to 96 cents for private workers.
Another $4.52 goes to health insurance for public workers, compared to $2.08 for private workers. And governments spend $3 per hour for its workers’ paid leave, compared to $1.88 for private workers.