Who Wants to Work for the Labor Union Industry?

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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Tags: Bureau of Labor Statistics, pay raise, public sector employees, union boss, union employee
Posted Feb 24th 2010 at 12:50 pm in Big Labor | 7973483 Commentshttp://biggovernment.com/vderugy/2010/02/24/who-wants-to-work-for-the-labor-union-industry/Who+Wants+to+Work+for+the+Labor+Union+Industry%3F2010-02-24+20%3A50%3A38Veronique++de+Rugy

Public Sector Pay: Pucker Up Monica and Bring Your Scalpel

I’m sure Ms. Monica Potts, is a delightful person and in polite company never wets on the carpet as some of us are want to do.   And history teaches when a lady speaks ill of me, I surely have earned it.

So I find myself  a bit out of sorts after pouring over her latest screed, at the American Prospect, because no matter how I turn this around in my little mind I reach the conclusion: Monica owes me (gasp) an apology.

Here are a few minor gaffes Monica makes:

• I called for 20% cuts in federal, state, and local employees salaries.  She misread and uses only federal numbers to impugn either my math skills or Google’s Calculator.

• I said we should cut public employee compensation by 20% and future increases should be tied to private wage growth.  Again, Monica appears to have misread.  I didn’t say each worker should receive 20% less, precisely because there is so much obvious inequity in the salary, pension, and overtime public employees receive.  She makes my point by explaining a government cashier earns sixteen thousand dollars more per year than a cashier in the private sector.  NJ’s governor just pointed to a 49 year old pensioner who is to receive $3.3 Milion on a $124,000 contribution.  Please know this Monica:  I don’t want to use a hatchet, I want to use a scalpel to remove 20% from public employee compensation. This doesn’t mean job reductions (that’s for another post), but if for instance a cashier quits in a huff, his eager replacement will still earn less.   And this doesn’t mean furloughs, workers will be expected to earn less and (horrors!) show up for work.

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Tags: American Prospect, government salaries, Monica Potts, public sector compensation, public sector employees
Posted Feb 23rd 2010 at 1:25 pm in Economics, Media Criticism, News, Politics, State Politics, federal spending | 7693077 Commentshttp://biggovernment.com/mwarstler/2010/02/23/pucker-up-monica-and-bring-your-scalpel/Public+Sector+Pay%3A+Pucker+Up+Monica+and+Bring+Your+Scalpel2010-02-23+21%3A25%3A55Morgan+Warstler

A Formula for Real Economic Growth: Cut Public Employee Pay by 20%

Slate’s Jacob Weisberg came unhinged on Friday and gave the country the finger.

“Down with the People!” he screams from Bill Gates lap.  As Jacob sees it, we the people are demanding two mutually exclusive things: premium government services and tax cuts, and when we can’t have what we want, we become unruly children.

There is of course a third option, and I think it is the voting issue for the 2010 elections.  It frankly amazes me that TPM-style Democrats going after Paul Ryan’s Roadmap, don’t see it coming…

You can thank me later, but I just saved the United State of America at least  $278,309,600,000.00 PER YEAR. You read that right.  $278 BILLION per year.  That’s almost entirely what Medicaid will spend this year for children and the disabled.  That’s what our normal deficit looks like without TARP and stimulus.

The crazy thing is how easy it was to do.   It took me like three minutes.  And since I’m a big open source, creative commons guy I’m even posting my magical formula shown here using 2008’s budget:

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Tags: blue dog democrats, Jacob Weisberg, pay cut, public sector compensation, public sector employees
Posted Feb 8th 2010 at 9:59 am in Big Labor, Economics, Tea Party, federal spending | 70886295 Commentshttp://biggovernment.com/mwarstler/2010/02/08/a-formula-for-real-economic-growth-13915481000000-2/A+Formula+for+Real+Economic+Growth%3A+Cut+Public+Employee+Pay+by+20%25+2010-02-08+17%3A59%3A42Morgan+Warstler