Today, the AFL-CIO unveiled the 2014 Executive PayWatch report. According to the data, U.S. CEOs pocketed, on average, $11.7 million in 2013 compared to the average worker who earned $35,293. That means CEOs were paid 331 times that of the average worker.
Many of the CEOs highlighted in PayWatch head companies like Walmart. In 2013, CEOs made 774 times more than those who work for minimum wage. And while many of these companies argue that they can’t afford to raise wages, the nation’s largest companies are earning higher profits per employee than they did five years ago. In 2013, the S&P 500 Index companies earned $41,249 in profits per employee, a 38% increase.
This year, PayWatch highlights five low wage companies through worker testimonials at Walmart, Kellogg’s, Reynolds, Darden Restaurants and T-Mobile.
“CEO Executive PayWatch calls attention to the insane level of compensation for CEOs, while the workers who create those corporate profits struggle for enough money to take care of the basics,” said AFL-CIO President Richard Trumka. “This database is relevant to every community in the country. And we’ll use this data to organize and mobilize to lift millions of workers out of poverty and to strengthen the middle class,” said Trumka.
PayWatch can be found at http://bit.ly/PayWatch2014. PayWatch is a comprehensive searchable online database tracking the excessive pay of CEOs of the nation’s largest companies.