Neither party is willing to tackle military spending. Upcoming generations are highly likely to see a drop in standard of living vs. the baby boomers. Financial Sense® Wealth ManagementPO Box 503147San Diego, CA 92150-3147USA, 888.486.3939grow[at]financialsense[dot]com. Those unfortunate facts happen to be highly deflationary. The private sector offers no job security but still, candidates often opt for private sector employment because of their fast-paced and modern recruitment procedures. Military spending must come down or it will destroy us. I'll tell you what. As I look out on the political landscape, I see little hope that either Republicans or Democrats will address these problems. The opinions of Financial Sense® contributors do not necessarily reflect those of Financial Sense, staff, or parent company, Financial Sense® Wealth Management. 2) …. James J. Puplava, CFP®, CTS™, CIS, CES, CFS, AIF®, Demographic Time Bomb in Pictures and Dollar Amounts; Ratio of Social Security Beneficiaries to Private Employment Now Exceeds 50%. They want the government to step up spending and hire more workers to make up for the loss of jobs in the private sector. The government has fewer measures of progress or success than the private sector, although that is changing as a result of the Government Performance Reform Act requirements. I happen to agree with the majority who think those now graduating from high school will not be better off than their parents. I feel, A 40K Government Job is always better than a 70K private Job UNLESS the private job is Your PASSION. Brokerage services offered through Financial Sense® Securities, Inc., Member FINRA/SIPC. Just 24% of American Adults believe the job market is better than a year ago, 44% think the job market is worse, up 15 points from June. Everyone male or female is working (or is looking for work) whether they really want to or not. Entry of women in the workforce allowed much higher household debt levels than ever before. Agencies or offices may close or morph into new forms, but there will always be government jobs. The growth in government jobs is not sustainable nor is there any genuine excuse for it other than political pandering and vote-buying operations. The private sector offers no job security but still, candidates often opt for private sector employment because of their fast-paced and modern recruitment procedures. There are no more female workers to add to the pool. The reality is that government jobs have quite competitive entry-level salaries. Both firms doing business as Financial Sense® Wealth Management. This has never happened in US history. The difference between government jobs vs. private jobs is crucial Find out Pros and Cons of working for state government Federal job benefits Benefits of private employment Choose is it better to work for state or federal government Finally, we took the result and ranked the professions where the average salary of a private, for-profit sector employee was the highest compared to a government employee . 1. Medicare and Social Security problems must be addressed as well. Ability of households to take on more debt has peaked. Many private sector employees can be let go for any reason, or for no reason at all. The tug of war between the government and private sector in a young mind is something that cannot be won due to various differences in both the sectors. With rapid digitization in the Government sector paired with stability or longevity, you will often find yourself in a tussle between Government Jobs vs Private Jobs.Many of you must have thought if government jobs are better than Private Jobs, at some point of time. The pay commission revisions, especially the last two (6 th and 7 th), have also managed to elevate public sector salaries to well within the status of lucrative private sector salaries. Republicans refuse to address the income side of the balance sheet, and Democrats refuse to address the spending side. Have a look at various advantages of working in a private sector. You are not going to be RICH in either of them. So, ANY JOB is just a means of LIVELIHOOD. Spending on a … In my experience, Government jobs are dead end jobs for a few reasons. This is likely due to the more specialized nature of public sector jobs vs private sector jobs, but I also like to attribute it to our overall motivation and passion! But there is a definite impression that government employees, especially those who primarily review, are ill equipped to move back into what most consider to be the more demanding private sector. Public worker pension promises have been made that cannot possibly be delivered. The only difference is the lifestyle. Registered Representatives associated with this site may only discuss or transact securities business with residents of states they are registered in. With rapid digitization in the Government sector paired with stability or longevity, you will often find yourself in a tussle between Government Jobs vs Private Jobs.Many of you must have thought if government jobs are better than Private Jobs, at some point of time. Here is a chart from reader Tim Wallace that will help put the recent loss of government jobs in a better perspective. Timing is very problematic. The third unfortunate fact is demographics are no longer favorable. The second unfortunate fact is we cannot afford and do not need all of the existing government jobs. The culmination will be a currency crisis at some point down the road. Copyright © 1997-2020, Financial Sense®. The deviance between private bobs and population growth is easily explained by the entry of women in the workforce. The benefits are generally hard to beat, so there's little incentive to leave. Private Jobs. Employees will always be needed to complete the tasks only government does, and additional employees will always be needed to support them. Here is a chart from reader Tim Wallace that will help put the recent loss of government jobs in a better perspective. 1. I was told to look for a secure job like one with the phone company, the gas company, the electric company, or the government. Financial Sense® Securities, Inc. For a graphical representation of point number three above, please see Demographic Time Bomb in Pictures and Dollar Amounts; Ratio of Social Security Beneficiaries to Private Employment Now Exceeds 50%. All rights reserved. Private Jobs. There are too few jobs, too much student debt, and too few workers supporting too many retirees on Social Security. That gave us 426 occupations for which employment opportunities exist in both the federal government and the private, for-profit sector. Private vs. Public Employment By Nicole Gelinas. Women actually overtook men in the work force way back in 1990.

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