CEOs are raking in fat pay packages as the US stock market booms. Bosses have always made more money than workers. But the gap between CEOs and employees is growing.
Bosses have always made more money than workers. But the gap between CEOs and employees is growing.
To put it another way: The annual pay hike amounted to about $4,300 for workers. For CEOs, it was an extra $1.5 million. Americans are spending $1,015 more per month than they did in 2021 for the same basket of goods and services, according to Moody’s Analytics. That spike in costs almost completely swallows up the increase in incomes, which are up $1,109 per month over that span, Moody’s said.
Last year, the S&P 500 soared 24% as investors breathed a sigh of relief that the economy did not plunge into a recession and looked forward to potential interest rate cuts from the Federal Reserve. The Nasdaq surged by 43% last year, powered by the artificial intelligence boom.
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