00:00 Benzinga and here's what's on the block. CEO compensation in 2022 was significantly higher
00:06 than workers' pay, marking a continuation of the pay disparity trend in the last decade.
00:10 This has led to an increase in strikes and labor actions demanding better pay and conditions.
00:16 According to the AFL-CIO's annual executive pay watch report, CEO paychecks have increased by an
00:21 average of $5 million over the last decade, reaching an average compensation of $16.7
00:26 million in 2022. In contrast, workers earn an average 272 times less than their CEOs,
00:33 suggesting that an average worker would need five lifetimes to match a CEO's earnings.
00:37 The report also revealed that the largest pay ratio is found in the communication services sector,
00:42 where CEOs earn 508 times more than workers. These findings come amid slowing wage growth
00:47 for workers, even as inflation persists. Meanwhile, predictions of a rich session
00:51 have proven false with the wealthiest Americans maintaining a larger share of wealth.
00:55 For all things money, visit Benzinga.com
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