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When compared to average workers, the pay increase is even more dramatic. Is this increase justifiable?
In 1992, CEOs were paid 82 times the average of blue-collar workers. In 2004, this amount increased to over 400 times. According to the Bureau of Labor Statistics, the average production worker fared less well in 2003. Their annual pay was $26,899 in 2003, up just 2.1% from 2002. The average worker took home $517 in their weekly paycheck in 2003; the average large company CEO's took home $155,769 in their weekly pay. If the minimum wage had increased as quickly as CEO pay since 1990, it would be $15...
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