STORE

private sector

Elon Musk SpaceX (Jae C. Hong / Associated Press)

SpaceX Explosion Threatens Private Takeover of Space

An explosion Thursday in Cape Canaveral during a routine static test-fire of the nine Merlin 1D engines that power the first stage of SpaceX’s Falcon 9 rocket is the company’s second catastrophic failure in the last two years, and puts at risk the expected private sector takeover of space flight.

In a Friday, May 6, 2016 photo, Dr. Shane Prejean briefs a group of medical residents and medical students while visiting a patient at Our Lady of the Lake Regional Medical Center in Baton Rouge, La. Louisiana’s deep, persistent budget troubles are endangering the future of medical training programs. Proposed …

Health Care Displaces Manufacturing as Tops in Jobs Under Obama

On Friday, the Labor Department reported that the economy gained just 38k jobs in May, far below economists’ expectations. Worse, the Feds revised estimates of job gains in the previous two months down, wiping 59k jobs off the labor rolls.

d read

Federal Workers Earn 78% More Than Private Sector Employees, Study Shows

According to a study of data from the Bureau of Economic Analysis, conducted by the Cato Institute, compensation for federal workers is 78% higher on average than compensation for private sector employees.

“Federal civilian workers had an average wage of $84,153 in 2014, compared to an average in the private sector of $56,350,” according to the Cato review. “The federal advantage in overall compensation (wages plus benefits) is even greater. Federal compensation averaged $119,934 in 2014, which was 78 percent higher than the private-sector average of $67,246.”

money_reuters

Exploding Public Pension Costs Hit Public Employee Wages

In the past, the Manhattan Institute has effectively highlighted how rising California public pension costs are cutting into “basic infrastructure maintenance, public safety, education, and quality-of-life services such as parks and libraries.” But in the newest report, “Pension Costs are Crowding Out Salaries,” by Senior Fellow Stephen D. Eide, the Manhattan Institute reveals how California public employees themselves are suffering. In a decade where pension costs rose by 135 percent and healthcare premiums by 85 percent, public sector wages grew 4.6 percent slower than private sector workers’ salaries.