Public sector workers pulling clear of private sector
Figures from the Office for National Statistics have again emphasised the growing gap between public sector workers and private sector workers. Figures released yesterday show that on average the typical public sector worker is paid around £74.20 a week more than their private sector counterparts. The weekly pay for an average public sector worker now stands at around £539 which is up 3.1% on 2008, compared to £465 for the private sector, which is only 1% higher over the same period.
When you also take into account the massive difference in benefits, i.e. pensions, the public sector is now pulling well ahead of the private sector on so many different fronts. There is also growing concern that public sector workers receive more "protection" with regards to job security than their private sector counterparts, even though the government has promised to cut back on public sector worker numbers. Historically, while many people may have "lost their jobs in the public sector", in truth very often they are transferred to different areas of the public sector for re-employment.
The cost of running the public sector has increased dramatically since the Labour Party came into power in 1997 and many believe this is one of the major reasons why the UK economy is so sluggish at the moment.
Share this..
Related stories
Just when the economy showed signs of recovery........
There can be few Prime Ministers who have experienced the difficult situations and circumstances which have arisen under Gordon Brown's tenure over the last 12 months. We have seen the credit crunch, the collapse in UK banking system, the recession, infighting in government, the MP's expenses scandal and now we have the outbreak of swine flu which could turn out to be a worldwide pandemic.
...
Middle management suffering at work
A report by PricewaterhouseCoopers has confirmed that the recession is hitting all areas of the economy and population with the revelation that middle management across the UK are feeling the pinch. A survey by PricewaterhouseCoopers suggests that 40% of companies surveyed have been the victim of accounting fraud, theft or some kind of mismanagement (often to manipulate bonuses) over the last 12 m...
Read MoreWonga caps interest rates at FCAs maximum rate
17/12/2014 Payday loan company Wonga have changed their loans cap and interest rates in line with the new regulations introduced by the Financial Conduct Authority (FCA). The UKs leading payday loan company have decided to cap the interest rate on their loans at 0.8%, which is the maximum rate of interest allowed by the FCA. They have cut their missed payment fee from £20 to £15, which is...
Read MoreFee free bank accounts explained
12/01/2016 From the 1st January this year, the Treasury and the banking industry came to an agreement which means that nine UK high street banks will begin to offer fee-free current accounts. For the first time ever, bank accounts will be truly free to certain people, and they will be able to bank with the knowledge that they will not receive charges and not have an access to any overdrafts, a...
Read MoreLast ditch bid to avert postal strike
Unions and Royal Mail management are today in talks regarding planned strikes which will literally cripple the UK postal system. These last-ditch talks have been scheduled as we approached the first official strike date after which point many people believe it would be difficult for both parties to get around the negotiating table. Is there hope for the immediate future?
The very fa...