According to a new report from Primerica and Change Research, 3/4ths of middle-income families say their wages are falling behind inflation. Some other disturbing stats: the pandemic increased the ratio between CEO pay and worker pay by 23%. Want more terror? “Last year the average CEO-to-worker pay ratio of S&P 500 companies was 324-to-1. In 2020, it was 299-to-1. And in 2019, it was 264-to-1,” Fred Redmond, AFL-CIO’s Secretary-Treasurer said.
This is all to say, things are going very well for the extremely rich and uber-wealthy and things are not great for the rest of us. We've collected some charts and graphs and figures from a terrific substack article about this very topic, which you can read here, to highlight what is going on with Greedflation. That term is used to describe what's going on with inflation due to rising prices and increased corporate profits and CEO compensation while wages are decreasing.
All of these images are sourced from the Bureau of Labor Statistics and AFL-CIO.