CEO-worker pay gap jumps in 2021 - study

STORY: CEO-worker pay gap jumps in 2021 - study

Source: Institute for Policy Studies

The CEO-worker pay gap at U.S. firms with the lowest median wage widened last year

A study by IPS looked at 300 publicly listed companies

And found the average CEO pay in the group climbed $2.5M to $10.6M

Median worker pay rose $3,556 to $23,968

The average gap was 670 to 1, up from 604 to 1 the previous year

The study will give new ammunition to investors who push for social justice causes

Sarah Anderson, IPS Global Economy Project Director:

"During the pandemic, low-wage workers have demonstrated how essential they are to the functioning of our economy. With profits rising in 2021, corporations had an opportunity to make a big leap towards greater pay equity."

Source: Institute for Policy Studies

At 106 of the companies, median worker pay failed to keep pace with the average U.S. inflation rate

Of that group, 67 companies spent a combined $43.7 bln on share buybacks, boosting CEOs' stock-based pay

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