Public-private pay gap is widening

The public is angry at federal employees, claiming they are overpaid and underworked. But new Bureau of Labor Statistics data shows federal employees are paid an average of 24 percent less than their private sector counterparts. The figure was presented to the Federal Salary Council last week.

GovExec reports the gap widened by two percentage points in 2010 versus 2009. The Council is made up of union leaders and federal managers. It makes...

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The public is angry at federal employees, claiming they are overpaid and underworked. But new Bureau of Labor Statistics data shows federal employees are paid an average of 24 percent less than their private sector counterparts. The figure was presented to the Federal Salary Council last week.

GovExec reports the gap widened by two percentage points in 2010 versus 2009. The Council is made up of union leaders and federal managers. It makes annual pay recommendations to the President’s Pay Agent. Meanwhile, the change in the Employment Cost Index was 1.6 percent in 2010. That figure could become the basis for the president’s raise recommendation to be included in the 2012 budget proposal.

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THRIFT SAVINGS PLAN TICKER

May 23, 2022 Close Change YTD*
L Income 22.6037 0.0907 -3.32%
L 2025 11.3995 0.0801 -6.04%
L 2030 39.2599 0.3933 -8.58%
L 2035 11.6874 0.1278 -9.48%
L 2040 43.8601 0.5203 -10.33%
L 2045 11.9207 0.1506 -11.10%
L 2050 25.9344 0.3486 -11.80%
L 2055 12.5368 0.2074 -13.56%
L 2060 12.5359 0.2073 -13.56%
L 2065 12.5348 0.2072 -13.57%
G Fund 16.8757 0.0042 0.65%
F Fund 18.9370 -0.0757 -9.33%
C Fund 60.3446 1.1064 -12.91%
S Fund 63.8646 0.6129 -18.83%
I Fund 34.5341 0.5981 -12.73%
Closing price updated at approx 6pm ET each business day. More at tsp.gov
* YTD data is updated on the last day of the month.