CEO pay for major companies in Wisconsin continues to soar as income inequality and outsourcing of good-paying American jobs increases. Outsourcing has become a hot presidential election topic with candidates calling out corporations who say they need to save money by sending jobs overseas. Meanwhile, according to the new AFL-CIO Executive PayWatch, the average Wisconsin CEO made $11.4 million per year in 2015 – 276 times more money than the average rank-and-file worker.
The Executive PayWatch website, the most comprehensive searchable online database tracking CEO pay, showed that in 2015, the average production and nonsupervisory worker earned approximately $36,900 per year, a wage that when adjusted for inflation, has remained stagnant for 50 years.
“These numbers demonstrate the unacceptable levels of income inequality that exist right here in Wisconsin and around the country,” said Phil Neuenfeldt, President of the Wisconsin AFL-CIO. “The rules of the economy have been manipulated to benefit the super-rich. CEO pay continues to grow and grow as good jobs are shipped overseas and wages for the average worker stagnate.”
“This is a disgrace and we must stop Wall Street CEOs from continuing to profit on the backs of working people,” said Stephanie Bloomingdale, Secretary-Treasurer of the Wisconsin AFL-CIO. “We need to focus on raising wages for all, creating and keeping good jobs here in America and reversing these unfair and unjust trends.”
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