Wednesday 5 January 2011

Happy New Year, Mr CEO

I loved this story from The Vancouver Sun:

Top CEOs will have earned average workers' full annual pay by 2:30 p.m. today

"Today" refers to January 3, when the Sun's story appeared, and these are Canadian CEOs we're talking about. Canada remains more egalitarian in its income distribution than the UK (or the US), though evidently that's not really saying very much any more. Even so, the CEO-to-average-worker comparison may not quite hold in the UK -- but only because most people here hadn't straggled back to work by January 3.

It's nothing to worry about, anyway. After all, we're all in it together, aren't we?

Update, January 6: By coincidence some related data for the UK were released this morning by IDS (Income Data Services). In the year to November, private sector wages rose 2.2%, while income for corporate directors edged up by a mere 55%. As I said, all in it together.

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