Saturday, February 28, 2015

More talk about public sector compensation

We mentioned a couple of weeks ago that there's a conversation gaining steam in the country about the compensation of public sector employees, and how it compares to the private sector. Kevin Drum over at Mother Jones weighed in yesterday with a thoughtful take -- though not a conclusive one:

More talk about public sector compensation

We mentioned a couple of weeks ago that there's a conversation gaining steam in the country about the compensation of public sector employees, and how it compares to the private sector. Kevin Drum over at Mother Jones weighed in yesterday with a thoughtful take -- though not a conclusive one:

This is a hard question to answer. How do you make sure you're really looking at comparable jobs? How do you value different benefits packages? How do you adjust for things like age, experience level, and regional cost of living differences? Has public sector comp gone up faster than inflation, or merely faster than more stagnant private sector median wages? Has anyone taken a broad, reasonably rigorous look at this? I'd sure be interested if someone has.

Frankly there may not be one correct answer to the question, "Are public sector employees overpaid?" Matthew Yglesias makes the case that the more important question is whether public employees are doing valuable work, and he's right, though we still think the questions Drum is asking are worth hashing out.

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Every year, city government spends slightly more than $4 billion. Where does all that money come from? More importantly, where does it go? Are we getting the most bang for our tax buck? “It's Our Money” is a joint project between Philadelphia Daily News and WHYY, funded by the William Penn Foundation, designed to answer these questions.

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