A powerful labor union’s new report slams the pay gap between CEOs and rank-and-file workers, but critics say it conveniently ignores the sky-high salaries union bosses pull down.
The group’s annual Executive Paywatch report, unveiled this week, found that last year the average S&P 500 CEO earned a total of $13.1 million in compensation, while the average U.S. worker made only $37,632, a pay ratio of 347:1. But not included in any of the figures are the total compensations of nearly 192 union presidents who earned more than the average executive’s income.
“By attacking business leaders with cherry-picked data, labor leaders are glossing over their own startling pay discrepancies,” Luka Ladan, spokesman for Center for Union Facts, told Fox News. “The AFL-CIO and its affiliated unions would be better off figuring out how to effectively serve their disgruntled members than scoring cheap PR points.”
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