The latest data from the Bureau of Economic Analysis, showed that government workers’ wages are rising at a record 8.1% YoY…
Nice work if you can get it… and oh boy do those workers deserve it, right?
Well another group of hard-working and much-deserving federal employees just got an even bigger pay rise.
Speaker Nancy Pelosi announced Thursday that The House of Representatives is raising its maximum annual salary for staff to $199,300, up from $173,900.
The 15% pay hike is intended to help “recruit and retain the outstanding and diverse talent,” Pelosi wrote in a letter to colleagues.
“This important action follows steps taken over the last two Congress to make the House more inclusive, open, and representative of the full range of voices and values of our communities,”
It’s also aimed at ensuring pay parity between House staff and other federal government employees, she added.
Ironically, as Axios notes, the move would allow some staffers to earn higher salaries than elected officials. The compensation for most U.S. senators, representatives and delegates is s $174,000, according to the Congressional Research Service.
Presumably ‘elected officials’ will now lobby for a concomitant pay rise… because ‘equity’.
What exactly are they getting a 15% pay rise for?
The question is – of course – how “transitory” is this 15% payrise? We assume, if Powell is right, that this surge in pay – a record increase – will be undone soon enough as supply chain pipelines ease and the economy recovers? Oh wait, it doesn’t work like that in the real world does it?
Via Zero Hedge