Website Shows Gap Between CEOs, Average Workers [AUDIO]
A new website created by the largest and most powerful union in the nation highlights the growing disparity in the pay of CEOs, compared to their typical employees.
"This allows people to get salary information for the CEOs in their state, as opposed to the average workers in that state," said Derek Roseman, New Jersey AFL-CIO spokesman, "so for example in New Jersey, your average CEO is making more than $5.6 million as opposed to almost $47,000 for the average worker."
Roseman was quick to do the math.
"That means the average CEO in New Jersey is making 121 times more than the folks who are actually doing the work," Roseman said.
According to Roseman, even though the economy is in recovery, not all people are benefiting from the improved conditions.
"The reality is, this recovery right now is not being felt by the middle class, or folks making the minimum wage, or somewhere in between," he said. "The majority of the benefits of this recovery are actually being enjoyed by the CEOs at the very top of the pyramid."
Roseman argues that if workers are given a little larger slice of the pie, they will go out, spend money and help grow the economy and create more jobs.
He also said there's always been a difference between CEO pay and worker pay.
"Fifty years ago, CEOs were making 25, 30, 40 times what their average worker was making, but now they're making 120 times more," Roseman said. "That is a level that is unsustainable for economic growth."