“Federal pay rose an average of 1.3 percent for the budget year that ended Sept. 30, according to newly released federal data,” USA Today reports.
By comparison, the wages of private workers rose 1.2 percent during the period, the same rate as state and local government pay growth, the Bureau of Labor Statistics reports.
Translation: now is a great time to be a Federal worker.
“Federal workers made an average $75,296 in pay last year, plus $28,323 in medical, pension and other benefits,” a USA Today analysis found.
“That’s about 60 percent more than the average private wage, a difference explained largely by higher education levels and more professional jobs in the federal workforce,” the report adds.
Many would find it odd that, during this time of economic instability, Federal compensation has soared in the past five years. Add to that the fact that the federal government in recent years has hired “several hundred thousand new employees, including many well-paid lawyers and doctors.”