Some of those companies are in Northeast Ohio.
CINCINNATI — The following article was originally published in the Ohio Capital Journal and published on News5Cleveland.com under a content-sharing agreement.
Looking across the S&P 500, the average CEO earned $18.3 million in 2021 — a $540,000 increase over the prior year, according to the report. Meanwhile, their average employees earn $58,260 — a $1,303 increase. For workers, this amounts to a real wage decrease given historic levels of economic inflation.For instance, Bath & Body Works, a New Albany based company that sells various beauty products and fragrances, paid CEO Andrew Meslow $17.7 million in 2022.
More than half of Kroger’s employees are part-time workers, the company said in a financial statement. In a speech last week, AFL-CIO Secretary Treasurer Fred Redmond characterized the trend as “greedflation,” arguing corporate profit secret behavior is to blame for the inflationary economy.
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