An AFL-CIO study has roundly criticized the growing pay gap between big stock market quoted company CEOs and regular employees. The labor group is calling for more transparence within businesses in order to rectify inequalities and is it trying to mobilize reluctant shareholders to the cause.
Pay inequality in US big businesses continues to grow. The AFL-CIO labor group that gathers fifty-six unions under its name has just published a new study on bosses pay that examined salaries being paid to stock market listed company CEOs. The average Standard and Poors 500 company boss earned $13.1 million in 2016, 347 times the average US worker. In contrast according to Bureau of Labor Statistics, the average annual pay of rank and file workers is $37,600, up 2% from the previous year. “When
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