By 9:46 am on January 2, as most Canadians begin another year of labour, Canada’s 100 highest paid CEOs will have reaped, on average, $38,010 in pay.
“That equals the average annual earnings of workers in Canada,” says Hugh Mackenzie, research associate with the Canadian Centre for Policy Alternatives (CCPA). “And it will take them all of 2007 to earn it.” “If time is money, are Canada’s 100 highest paid CEOs really worth more in a day than most Canadian workers are in a year?” asks Mackenzie.
For more information on the growing income gap, visit The Globe and Mail, or read the full Canadian Centre for Policy Alternatives report.