As most American families continue to struggle with high unemployment and stagnant wages, CEOs at the country's 350 biggest companies saw their pay jump 11% last year to a median of $9.3 million, according to a study conducted for the Wall Street Journal. The survey looked at direct compensation — salary, bonuses, and long-term incentive awards — and did not include assets like stock options:
For the surveyed CEOs, the sharpest pay gains came via bonuses, which soared 19.7% as profits recovered, especially in some hard-hit industries. … Net income rose by a median of 17%; shareholders at those companies enjoyed a median return, including dividends, of 18%.
Corporate profits may be at sky-high levels, but they are not translating into shared prosperity for all. Median household income has fallen nearly 5% over the past decade and in 2010 was $50,221. The lack of wage growth has made it difficult for average Americans to keep up with rising prices on everything from gas to food.
This latest report is further evidence that the gap between the rich and everyone else is widening, with economic inequality in the US at its highest levels since the Great Depression.
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We’ve borne witness to a chaotic first few months in Trump’s presidency.
Over the last months, each executive order has delivered shock and bewilderment — a core part of a strategy to make the right-wing turn feel inevitable and overwhelming. But, as organizer Sandra Avalos implored us to remember in Truthout last November, “Together, we are more powerful than Trump.”
Indeed, the Trump administration is pushing through executive orders, but — as we’ve reported at Truthout — many are in legal limbo and face court challenges from unions and civil rights groups. Efforts to quash anti-racist teaching and DEI programs are stalled by education faculty, staff, and students refusing to comply. And communities across the country are coming together to raise the alarm on ICE raids, inform neighbors of their civil rights, and protect each other in moving shows of solidarity.
It will be a long fight ahead. And as nonprofit movement media, Truthout plans to be there documenting and uplifting resistance.
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