A message from the AFL-CIO
Wall Street elites blame workers and low unemployment for causing inflation. They say it’s because our wages are rising.
But in 2021, S&P 500 companies’ CEOs’ pay rose 18.2 percent on average. Workers’ wages rose only 4.7 percent.
CEOs, not workers, cause inflation. It’s “greedflation.”
Corporations are increasing prices to boost profits and create windfall payouts for CEOs. In 2021, CEOs of S&P 500 companies received, on average, $18.3 million in total compensation.
The average S&P 500 company’s CEO-to-worker pay ratio is now 324-to-1, up from 299-to-1 in 2020 and just 264-to-1 in 2019. CEOs got richer while workers sacrificed throughout the pandemic.
Working people got a pay cut with every price increase. U.S. companies enjoyed record profits, and CEO pay increased at an even faster rate.
So it’s no coincidence that we’re seeing waves of support for unions. Labor unions give workers the opportunity to come together and bargain for wages and benefits that are fair for workers, not corporations and billionaires.
CEOs, not working people, are causing inflation. Learn more in our Executive Paywatch report at greedflation.org.
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