Private sector wages over the last 2 years have basically kept up with inflation, growing at 3.3%. The financial industry saw minimal growth, rising only 4.1% during that time. Where does one go to find a business sector that is growing? High tech, biotech, healthcare? The answer leads to an industry that produces nothing of value to the GDP, and typically restricts the growth of the enterprises it is connected to: the Labor Union Industry. The wages for employees of labor unions skyrocketed and incredible 24.9%!
The other option would be the “enterprise” that labor unions are now so deeply embedded with: government employees.[2] It should surprise no one that the two enterprises that contribute nothing except more restrictive bureaucracy and regulation, and that takes their salaries out of the pockets of hard working Americans in the form of dues and taxes, continue to take care of their own while the rest of Americans struggle.
The number of those employed in government has increased during the last two years, while the private sector shed 8.7 million jobs. In addition, recent comparisons indicate that government jobs pay more than most of their private sector counterparts.
