If you're the kind of person looking to make $500 million a year (a la Michael Milken), stay in the private sector. But for the rest of us, becoming a government employee seems like a more lucrative option.
According to the BLS, total employer compensation costs for civilian workers, which include private industry and state and local government workers, averaged $29.40 per hour worked in September 2009.
Total employer compensation costs for private industry workers averaged $27.49 per hour worked in September 2009.
State and local government employers spent an average of $39.83 per hour worked for total employee compensation in September 2009.
But the killer part lies in the benefits. Health benefit employer costs were $4.43 per hour worked for state and local government and $2.01 in private industry. Ouch!
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