Government unions are suing the State of Illinois for not issuing what would have been their third round of raises in just seven months. Last week, members of AFSCME took to the street to demand “fair pay.”

Do Illinois state workers suffer from unfair treatment? My group, the Illinois Policy Institute took a closer look at the issue, and found that government workers enjoy generous pay and perks – often far beyond what many outside of the public sector could ever hope to receive. Consider the findings:

• The average compensation for an Illinois state government worker was $69,500 in 2008. The average private sector compensation? Just $56,500.
• In real terms, private sector compensation (wages plus benefits) in Illinois declined 2 percent over the past 15 years, while state worker compensation increased by 17 percent.
• Over a 40-year career, the average Illinois state worker will receive about 510 more paid vacation days than the average private sector worker.

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Based on this data , I am thinking that the good life starts the day one gets a job as an employee of your local Labor Union and in fact those overpaid financial sector people might want to change jobs!

This table, based on data from the Bureau of Labor Statistics, shows  the changes in the wages in three sectors: the private sector, the Labor Union industry and the financial industry. According to the BLS, the Labor Union industry “comprises establishments primarily engaged in promoting the interests of organized labor and union employees.” That’s basically all the guys who work in a Union.  The financial industry is “The Finance and Insurance sector comprises establishments primarily engaged in financial transactions (transactions involving the creation, liquidation, or change in ownership of financial assets) and/or in facilitating financial transactions.” So the Goldman Sacks, AIG and others.

As one can see clearly here since the beginning of the recession, private sector employees have seen their wages grown by 3.3 percent (roughly the rate of inflation.) The financial sector employees have been slightly better off with wages growing at a 4.1 percent rate.

Meanwhile, wages in the labor unions have continued to increase. And not by 5 percent or 7 percent but by over 24.9 percent!!!

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