"Between 1978 and 2024, chief executive pay spiked by 1,094%, according to the Economic Policy Institute—which means the average CEO earns 281 times the average worker. A new report from the Institute for Policy Studies captures how this disparity persists across some of the largest companies in the country and how the low-wage workers they employ are forced to rely on public benefits."
"The report drew on the S&P 500 and tallied a list of 20 companies that have been dubbed the "Low-Wage 20," which includes some of the usual suspects from the retail and grocery sectors, from Amazon and Walmart to Target and Kroger. The following employers round out the full list: Autozone, Best Buy, Chipotle, Costco, Darden Restaurants, Dollar General, Dollar Tree, FedEx, Home Depot, Lowe's, MGM Resorts, O'Reilly Automotive, Ross Stores, Starbucks, TJX, and Tyson Foods."
"As we've said for years, what really needs to happen is a significant and large increase in the federal minimum wage—that would be a big boost for American families. Pointing fingers at Amazon over SNAP and/or Medicaid is a red herring when eligibility is based on total household income and size—and not individual wages."
Over five decades, executive compensation has dramatically outpaced worker wages, with CEO pay rising 1,094% between 1978 and 2024. The Institute for Policy Studies identified 20 major S&P 500 companies, termed the "Low-Wage 20," where employees earn insufficient wages and depend on public assistance programs like SNAP and Medicaid. These companies span retail, grocery, automotive, and food service sectors, including Amazon, Walmart, Target, Kroger, Starbucks, and others. Despite some companies claiming competitive wages above minimum standards, the structural wage gap persists, with workers unable to meet basic needs without government support. Industry representatives argue that federal minimum wage increases represent the necessary solution to address systemic wage inadequacy.
Read at Fast Company
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