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US wages divide is wider than ever
guardian.co.uk - The gap between the earnings of America's chief executives and its average workers was wider than ever last year. This was despite a fall in profits and share prices and the cautionary tales of excess which have brought down some of the biggest names in business.

Chief executives in the top 100 US companies earned an average of $1,017 an hour, compared with $16.23 for the average worker, according to a survey published in USA Today.

The average compensation package was $33.4m, but nearly one-third banked more than $50m in salaries, bonuses and shares. Salaries and bonuses for executives were 15% higher in 2002, while workers received pay rises of 3.2%.

posted by West 8:25 PM