Wed, 11/25/2020 – 11:45
To be sure, the US government – in its attempts to become ever bigger over the years – has aggressively tried to attract as many workers to its ranks as possible over the generations, and in the 1980s it was offering impressive wage gains to government workers of well above 6%.
However, things have changed, and according to the latest personal income report released this morning, it is now punitive to work for the government because in October, wages and salaries for government workers declined by 2.2% compared to last October, the biggest decline on record.
A closer look at recent trends reveals that this is a purely a government worker feature, with wages for private sector employees rebounding soundly from their post-covid crash lows and fast approaching pre-crisis levels.
No wonder the deep state is angry.
While there is no immediate explanation for this surprising drop in government compensation, we are confident that one of the first things the Biden admin will tackle is how to make this number as high as possible because the last thing the ever-bigger government machine wants in its transformation to pure socialism, is to be seen as uncompetitive with private sector alternatives.
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Author: Tyler Durden