Economics

Recession For You, Boom Times For Federal Workers

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When your neighbor loses her job, it's a recession. When you lose your job, it's a depression. And when federal workers not only keep their jobs but see their pay rise during a recession, it's something else altogtether. USA Today:

The number of federal workers earning six-figure salaries has exploded during the recession, according to a USA TODAY analysis of federal salary data.

Federal employees making salaries of $100,000 or more jumped from 14% to 19% of civil servants during the recession's first 18 months — and that's before overtime pay and bonuses are counted.

Federal workers are enjoying an extraordinary boom time — in pay and hiring — during a recession that has cost 7.3 million jobs in the private sector.

Bonus!: Since June, the federal government has increased employment by almost 10 percent, while the private sector has cut employment by over 6 percent. And which sector do you figure was more padded to begin with?

More here.