Apollo Beach, FL (PRWEB) August 28, 2013
This Labor Day, the reason behind everyone taking time off may be forgotten. Originally intended as a dedication to the American work force, is this one day off enough of a gesture for American laborers?
The latest report from CreditLoan.com breaks down the American work force, including everything from minimum wage to employee benefits and the wages of the CEOs of major companies. While 16 million Americans are earning minimum wage, there are still 2 million earning even less than that, under $15,080 per year. Less-than-adequate benefits such as vacation time or insurance plans also contribute to the disparaging compensation for the average worker.
One of the most notable figures in this piece is the massive disparity between the wages of the average worker and the executives of several different companies. The graphic goes so far as to break down this ratio on a global scale, comparing ten different countries, of which America has the biggest ratio. CEOs in America make an average of 354 times that of the employees of their company. For example, the average Wal-Mart worker makes $22,400 per year while the CEO, Michael Duke, makes over $20 million.
While these figures are quite staggering, the infographic does point out that the Fair Minimum Wage Act of 2013 is looking to be passed this year. If passed, the bill would effectively raise the minimum wage from $7.25 to $10.10 per hour. While the hopes may be "dim at best", it's definitely a reason for people all over the US to look forward to going back to work.
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