As millions of American workers struggle to raise the minimum wage to $15 an hour, CEO pay for major U.S. companies has skyrocketed. According to the new AFL-CIO Executive PayWatch, CEO pay increased nearly 16 percent in 2014. Last year, the average American worker earned about $36,000 per year, while annual CEO pay averaged a whopping $13.5 million...
Mega-retailer Walmart, highlighted in this year’s PayWatch, represents one of the most egregious examples of CEO-to-worker pay inequality. Walmart CEO Douglas McMillon earns $9,323 an hour compared to just $9 for a beginning employee. A new employee would have to work for 1036 hours just to equal what McMillon earns in a single hour. PayWatch also highlights the wealth of the six Walton family members who have more wealth than 43 percent of America’s families combined. More information about Walmart’s massive CEO-to-worker pay disparity and inequality among S&P 500 companies can be found at paywatch.org.
- AFL-CIO Now