Are Federal Employees Underpaid?

I think not:

The wages of federal workers are 2 percent higher than similar private-sector workers, on average.

The benefits of federal workers are 48 percent higher than similar private-sector workers, on average.

The total compensation (wages plus benefits) of federal workers is 16 percent higher than similar private-sector workers, on average.

I guess . . . → Read More: Are Federal Employees Underpaid?

Perpetually Parsing Pensions

You know this whole debate over whether to get the pension fund to 50% funding may not matter as much as it may seem.  Or at least the problem may be so much worse than we think and that the numbers we assume are good turn out to be wildly optimistic.

The government accounting folks, . . . → Read More: Perpetually Parsing Pensions

What Does it Mean When a Million People Apply for a Thousand Jobs?

Several economists have commented on the remarkable and relatively new phenomenon that’s seen in India, where a government agency (or a state owned enterprise) advertises (say) 100 job openings and gets a million applications. This is generally interpreted as a problem, as a reflection of the very high extent of unemployment amongst the educated . . . → Read More: What Does it Mean When a Million People Apply for a Thousand Jobs?