Right or wrong, employees joined unions because they wanted better treatment and benefits from their employers.
The corporations closed U.S. factories and shipped jobs overseas to take advantage of the much cheaper labor which allowed them to grow their profits and pay the executives fat salaries and ever increasing bonuses which continue to this very day. Actually, the pay discrepancy has gotten worse over time.
When employees see this, how do you think they feel?
Since 1978, CEO compensation has grown 1,322%, but typical worker compensation has risen 18%.
www.cnbc.com
The Economic Policy Institute (EPI) estimates that CEO compensation has grown 1,322% since 1978, while typical worker compensation has risen just 18%. In 2020, CEOs of the top 350 firms in the U.S. made $24.2 million, on average — 351 times more than a typical worker.
“It used to be that in the 1950s, 60s, and 70s, CEOs made 3.3 times what a top 0.1% earner made. Now, it’s more than six times,” says Mishel. “CEOs now are making 351 times that of a typical worker, but back in 1978, it was only 31 times. In 1989, it was 61 times.”