The AFL-CIO, to which the SIU is affiliated, has issued the following news release:
AFL-CIO Releases 2019 Executive Paywatch Report
Secretary-Treasurer Liz Shuler Highlights Vast Executive-Worker Pay Inequity
(Washington, D.C., June 25, 2019) The AFL-CIO today released its annual Executive Paywatch report. AFL-CIO Secretary-Treasurer Liz Shuler discussed the federation’s findings during a call with reporters, highlighting the continuing pay inequity between workers and CEOs, discussing the impact of the Trump administration’s tax law on executive compensation and pointing out some of the worst offenders among major corporations. You can view the full report, including state-by-state data, HERE.
Below are some key points from the report:
- $14.5 Million: S&P 500 CEOs’ average 2018 compensation.
- 287:1: The average S&P 500 CEO-to-worker pay ratio.
- $5.2 Million: Increase in the average S&P 500 CEO’s pay over the past 10 years, a raise of more than half a million dollars annually.
- $7,858: Increase in the average U.S. rank-and-file worker’s pay over the past 10 years, a raise of less than $800 per year annually.
- $93 Billion: Decrease in corporate income tax collections following the passage of the 2017 GOP tax cut, a 31% drop for FY 2018.
- $0: Federal income taxes paid by 60 of the largest U.S. companies in 2018 despite being profitable. This list includes corporations like Amazon, Activision Blizzard and Delta Airlines.
Secretary-Treasurer Shuler’s introductory remarks, as prepared for delivery, are available HERE.