Wages have been growing faster for federal employees than for those in the private sector according to a new report.
The CD Howe Institute’s Alexandre Laurin and William B.P. Robson say that compensation per federal employee has increased by an average of almost 5 per cent annually for the past decade.
Their report “Premium Compensation: The Ballooning Cost of Federal Government Employees,” reveals that payroll expenses of an average federal employee is now $64 per hour. In the private sector, those in finance or insurance earn an average $46 and those in professional, scientific and technical service jobs earn an average $40.
When non-payroll expenses are factored in then the increases for federal employees can be even higher.
More market update: