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Executive Paywatch: High Paid CEOs and the Low-Wage Economy

April 23, 2014 Comments off

Executive Paywatch: High Paid CEOs and the Low-Wage Economy
Source: AFL-CIO

In 2013 the CEO to worker pay ratio was 331:1 and the CEO to minimum wage worker pay ratio was 774:1. America is supposed to be the land of opportunity, a country where hard work and playing by the rules would provide working families a middle-class standard of living. But in recent decades, corporate CEOs have been taking a greater share of the economic pie while wages have stagnated and unemployment remains high.

High-paid CEOs of low-wage employers are fueling this growing economic inequality. In 2013, CEOs of the Standard & Poor’s (S&P) 500 Index companies received, on average, $11.7 million in total compensation, according to the AFL-CIO’s analysis of available data from 350 companies.

Today’s ratio of CEO-to-worker pay is simply unconscionable. While CEO pay remains in the stratosphere, production and nonsupervisory workers took home only $35,239 on average in 2013, and a full-time worker making the federal minimum wage earned only $15,080.

Even as 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.

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Thirteen Workers Killed on the Job Every Day According to New Report on Worker Safety and Health

May 4, 2012 Comments off

Thirteen Workers Killed on the Job Every Day According to New Report on Worker Safety and Health
Source: AFL-CIO

In 2010, 4,690 workers were killed on the job – an average of 13 workers every day – and an estimated 50,000 died from occupational diseases, according to a new AFL-CIO report, “Death on the Job: The Toll of Neglect.” As a comparison point, in 2009, 4,551 people died on the job. West Virginia, Wyoming, Alaska, South Dakota and North Dakota were among states with the highest workplace fatality rates while New Hampshire, Massachusetts and Rhode Island were states with the lowest rates. Latino workers, especially those born outside of the United States, continue to face higher rates of workplace fatalities — 8 percent higher – than other workers.

The report notes that in 2010, more than 3.8 million workers across all industries, including state and local government, experienced work-related injuries and illnesses this year. The report includes state-by-state profiles of workers’ safety and health and features state and national information on workplace fatalities, injuries, illnesses, the number and frequency of workplace inspections, penalties, funding, staffing and public employee coverage under the Occupational Safety and Health Act (OSH Act). The report also addresses delays in the standard-making process, ergonomic injuries, new and emerging hazards like pandemic flu and other infectious diseases.

+ Full Report

Categories: AFL-CIO, death, labor, safety
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