Your stagnant wage, in 1 eye-popping chart
As America continues its slow, miserable climb out of the 2008 recession, wage stagnation is becoming a bigger concern. On Thursday, the Bureau of Labor Statistics' jobs report showed that wage growth effectively remains flat. It's a trend that has actually defined most of the 21st century — and, at least in comparison to one particularly well-off group, the depressingly slow growth of worker compensation goes back further still:
Since 1978, CEO compensation has risen 90 times faster than the average worker's, the liberal Economic Policy Institute shows in the above graph. That's not CEO pay vs. worker pay; that's just rates of growth.
The average CEO made $1.5 million, after adjusting for inflation, in 1978, EPI says. He or she now makes $16.3 million. The salary of the average worker, however, has risen from $48,000 to just $53,200. CEOs at top firms now make over 300 times more than the average worker.
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