Private sector workers have far less job security than their public sector counterparts. (Shutterstock)
Ontario's public sector workers earn more, retire earlier and are less likely to lose their jobs than their private sector counterparts, a new Fraser Institute report says.
Workers employed by the taxpayers earn on average 13.9% more in wages, or 12.4% more once unionization is factored in, and 77% were covered by a registered pension plan in 2011 that in the vast majority of cases offered defined benefits, the Ontario Prosperity Report comparing public and private compensation found.
The public sector retires 1.3 years earlier on average and has much stronger job security, it says.
"While a lack of non-wage benefits data means that there is insufficient information to make a definitive statement about total compensation between the private and public sectors, the data that is available indicates that the public sector enjoys a clear wage premium," the Fraser Institute report says. "There are also strong indications that the public sector has more generous non-wage benefits than the private sector."