00:00 Experts say the wage gap between workers and their company's CEOs is the worst it's been
00:04 since the Gilded Age, and apparently it's not turning around.
00:08 According to a new report by the American Federation of Labor and Congress of Industrial
00:12 Organizations, or the AFL-CIO, in the US, CEOs made on average 272 times what their
00:20 employees did in 2022, which the AFL-CIO says means they're making the same amount each
00:26 year as their average worker makes in five lifetimes.
00:29 The report indicates that over the course of the last 10 years, a period which included
00:34 a worldwide pandemic and global economic difficulties, CEO pay has surged by nearly 30%.
00:40 They found that CEO pay has gone up $5 million on average, resulting in an average salary
00:45 of some $16.7 million by the end of 2022.
00:49 But those were just the averages, with the report finding that CEOs of communication
00:53 services companies had pay that was 508 times their average workers.
00:58 National Executive Director and Chief Negotiator for the currently striking SAG-AFTRA Actors
01:03 Union Duncan Crabtree Ireland says this report outlines the lies being told from the top,
01:09 explaining during a press conference, quote, "We really think that it's important that
01:12 when companies tell us they can't afford it, or that it doesn't work for their business
01:16 model, that we need to look at what they're doing with executive compensation."
01:20 This report comes as members of multiple unions have begun to strike around the country, seeking
01:25 higher wages just to keep their heads above water.
01:28 [MUSIC PLAYING]
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