More Compare and Contrast
Readers of this blog will know that public vs. private pay has been in controversy over the last few years. There is a large literature on the subject which points out that differences between the public and private sector need to be adjusted for factors such as occupational composition and size of employer. I would characterize the literature as indicating rough adjusted comparability; some studies say public pay is somewhat more; some say the reverse. Benefit valuation – particularly pensions – is the trickiest part. The U.S. Bureau of Labor Statistics puts out quarterly unadjusted data on private sector pay…