Top CEOs earn 335 times average wage
Print Edition
CHIEF executives of S&P 500 companies on average made 335 times more money than the average rank-and-file worker last year, down from a multiple of 373 in 2014, according to a union study released yesterday.
The figures released by the AFL-CIO, the largest federation of labor unions in the United States, are likely to gain attention. Pay disparities, which have persisted despite a steady American economy that has reduced the joblessness rate to about 5 percent and raised wages somewhat, have fueled political debate.
The average production and non-supervisory worker made about US$36,900 last year, up from about US$36,000 in 2014, the AFL-CIO report said.
Meanwhile the average CEO of an S&P 500 company made US$12.4 million last year, down from US$13.5 million in 2014.
“The income inequality that exists in this country is a disgrace,” said AFL-CIO President Richard Trumka.
“We must stop Wall Street ... from continuing to profit on the backs of working people.”
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