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In 2010, CEO Pay Went Up 27% While Worker Pay Went Up 2%

 
 
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Households across the country are still feeling the effects of the Great Recession, with unemployment falling very slowly, while foreclosures are still increasing, along with poverty rates and oil prices. However, one group of Americans is doing very well — corporate CEOs, whose pay is returning to pre-recession levels:

At a time most employees can barely remember their last substantial raise, median CEO pay jumped 27% in 2010 as the executives’ compensation started working its way back to prerecession levels, a USA TODAY analysis of data from GovernanceMetrics International found. Workers in private industry, meanwhile, saw their compensation grow just 2.1% in the 12 months ended December 2010, says the Bureau of Labor Statistics.

Median CEO pay last year was $9 million, the highest since 2007. The median CEO bonus was $2.2 million. Family wealth, meanwhile, is currently down $12.8 trillion from its 2007 peak.

ThinkProgress / By Pat Garofalo | Sourced from

Posted at April 1, 2011, 6:34am

 
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