CEOs at the 350 largest companies in the US received an average $18.9 million in compensation in 2017, a 17.6% increase from the previous year, according to recent analysis. Although the economy saw new peaks this year, most workers in the US are not reaping the benefits. More than 60% of workers in the US didn’t see a pay raise at their job or get a better paying job in the last year.
The cost of living has increased in recent years, consumer inflation hit a 6-year high in July. People are living in precarious financial situations because wages have not kept pace with cost of living.
Older workers between the age of 64 and 72 had the highest incidence of getting neither a pay raise or a better paying job, at 79%.
Despite the disparity and against the evidence, 91% of Americans say they have the same or greater confidence in the job market.
Photo: “The Sillhouette Workmen 1” by Nikk is licensed under CC BY 2.0