There are now 54 industrial workers wages on the average CEO salary.
It’s the biggest difference in the modern era, writes LO’s Karl-Petter Thorwaldsson and Jeanette Bergström .
recently, more and more business peaks loudly demanded a higher wage dispersion. Simultaneously, the income gap between the elite who are in high positions of power and ordinary wage earners. The gap is the largest in modern times. Business peaks high incomes is not justified from a competition perspective. The image of a global labor market for business peaks can be strongly questioned. It shows LO’s new audit, power elite – the gaps greater than ever , which is presented today.
Today, it is barely 54 industrial workers wages at an average näringslivstopps income. This means that a top manager in the business has an income of more than 1.5 million per month, compared to an industrial worker who earns 28,300 per month. It is the biggest difference in modern times. LO has also examined the differences between a top manager in business and a low income. It turns out that the former average have an income that is 77 times bigger than an adult without high school education who work in hotels and restaurants with the lowest agreed wage of just under 20 000 per month.
for the 16th consecutive year the LO income gap between ordinary workers and the Swedish power elite by comparing the power elite the average income of an average production worker’s wage. with this report, the LO highlight the economic conditions of those with great power. The survey reflects the power elite in income between 1950-2014 and covers nearly 200 positions of power. We investigate employees in positions of power in fields such as business, politics and the economy, and therefore includes not only the wealthy owners. The survey follows the income development for selected positions of power and not individuals.
What we are seeing is a trend that goes in the wrong direction. Sweden has long been one of the most equal countries, it is not only in LO’s investigation that the growing inequality shows. The OECD has shown that the income gap between those with the highest income and those with the lowest increases more in Sweden than in comparable countries. In light of growing income inequality, the question of representation and democracy to the test. Sweden risks becoming a country with a power elite that has been deteriorating understanding of the economic conditions and the reality that many of LO’s members encounter in their daily lives. This risks in turn affect how the power elite perceives and describes the development of society, which can shape the policy content.
The growing income gap between ordinary workers and the power elite is because the business peaks income will increase quickly. In this year’s survey, we have also reviewed the global labor market for senior managers. The high CEO salaries usually motivated by compensation needs to be competitive in an international perspective in order to attract competent managers. This is the notion that managers act in a cross-border labor market. Our study indeed shows that people in leadership positions who have a nationality other than that which is the company’s domicile is very unusual. Managing records to put in place primarily through domestic internal recruitment.
Our review indicates that there are few Swedish business leaders operating in a global labor market. Although it is rare to hear the business community to question the absurdity of business peaks high salaries. However we are now hearing more and more voices calling for lower starting salaries, which threatens to push wages down for all regular employees. This means even greater income inequalities that lead to a society where even people with jobs are forced into dependence on benefits to support themselves. Our starting point is different, we are convinced that increased income inequality is bad for our country. Sweden will instead be a country that holds together. A country where everyone is able to live on their wages.
Karl-Petter Thorwaldsson
LO Chairman
Jeanette Bergström
LO economist
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