As if we need another reminder of the increasing wealth gap, the AFL-CIO released some figures this week that show the average CEO of a North Carolina-based company made about $4 million in 2013, 108 times more than the average worker, who took home about $38,985. But that guy might as well be a millionaire compared to minimum-wage employees, which CEOs towered over in a 277:1 ratio.
Bank of America CEO Brian Moynihan makes 338 times the average worker and about 871 more than those on minimum wage.
"CEO Executive PayWatch [the name of the findings] 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 Richard Trumka, President of the AFL-CIO. "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."