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Loading...Average Canadian Wage Increase: CEO 27%, Average Joe 0%
Pity the top 100 CEOs in Canada. At an average of $8.38 million each, they make less than the country’s best hockey players. On the other hand, in 2010 they made an average of 27% more than they did in 2009. That should make them feel better.
Compare that with the average, full-time Canadian worker, who pulled in $44,366 in 2010. After adjusting for inflation, Average Joe made slightly less than the year before.
The numbers come from the Canadian Centre for Policy Alternatives’ annual survey of compensation for the top Canadian CEOs. Along with the report, they released a clever little video pitting CEO with Average Joe, showing that by noon on January 3rd, CEO earned more than Average Joe will make during the entire year.
The report is aptly titled Canada’s CEO Elite 100: The 0.01%. It is published annually and tracks the growing inequality in Canada. The most recent report shows the trend is a runaway freight train. In 1995, the top 50 CEOs made 85 times the average worker. In 2010, the number soared to 255.
Canada likes to pride itself on being a country without major class distinctions. However, the report shows wealth becoming increasingly concentrated in a monied upper echelon:
Until recently, Canada stood among the middle of the pack when it came to international comparisons of income inequality. Now, that status is threatened by a troubling trend: the Conference Board of Canada observes income inequality is growing at a faster pace than it is in the U.S. A recent OECD study confirms these findings and observes that inequality in Canada is rising relative to that in most OECD countries. How much longer can Canada sustain a trend that polarized America and has spilled over into our own borders without seeing the well-documented effects of inequality—social unrest, rising crime rates, diminished trust, as well as worsening health and mental health issues?
Read more: canada, economy, financial crisis, financial reform, income inequality, occupy, ows
Photo credits: Thinkstock
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+ add your ownLooks like the fellow workers of the CLC have their work cut out for them in fighting for economic justice in the workplace!
Harper: We are building dozens of new prisons across the country.
Minister: Very good Mr. Harper, and what do you plan to do about the homeless situation?
Harper: I just told you.
Canada will never be Canada until we get Harper the criminal oaf out of office.
Well, the inequality is a global trend. I wonder what it would take to reverse the process.
Outrageous! Why not pass/share some of that raise along to the loyal, dedicated hard wroking class? If it wasn't for these workers the CEOs and Top Executives would not be able to enjoy much of the life style that they do today. More condiseration towards fariness and not greed should go a lot further.
Looks like Canada is right behind the U.S. One cannot help but wonder where all this will end.
Inequality is my primary obsessive thought. I have experienced numerous episodes of food insecurity. I don't want to be reduced to working for food, and shelter. Some of my income should be available for savings and some for personal and community enrichment. Some days I cry, some days I mourn, some days I contemplate stockpiling ammunition.....
I think this article bolsters my position that this is not a problem of but flag or country but an organized global power grab by multi-national corporations and their 1%
The most frustrating aspect to me is that people would cling to party affiliations promising to promote their views while their very own campaign web sites make clear in their plans and rhetoric their support for those same corporations while but gift wrapping it thinly with pandering to their bases.
It matters not if one is liberal or conservative in their views , but rather that one particular party at this juncture has dropped almost all pretense in worshiping corporate domination and simply has their word craft and crowd science people working overtime in applying lipstick on a pig.
APEC is called by some the granddaddy of all trade agreements and it is the goal of APEC to one day get rid of ALL standard governments and put the world’s power into the hands of Corporations. This transition has been going on for many years and every person in every country will torn under by the new ruling class. This is the Epitome of a global takeover. There have been many warnings but have been ignored by most. “The Handmaiden” and “1984” are two of the most dramatic but also the closest to the truth. Control by Bankers, investors and Corporations is what can be condensed into the phrase “One World Order”, a world of the ruling class and serfs.
My heart goes out to the people in Canada and the people around the world. The N. American Union is still being debated and when that happens we can officially say we are in 1984.
PS. Deborah D. The Occupy movement is already here in Canada & has been since it started.
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