News Release

CEO Pay, Unemployment and Labor

Monday is Labor Day. Today the unemployment rate rose to 9.6 percent. The U6 rate, which includes those accepting part-time work instead of full-time work and those who have stopped looking for work, rose to 16.7 percent.

SARAH ANDERSON, via Tamar Abrams
Anderson is global economy project director at the Institute for Policy Studies and co-author of the just-released report “Executive Excess 2010: CEO Pay and the Great Recession — The 17th annual executive compensation survey looks at how CEOs laid off thousands while raking in millions.”

MARK BRENNER
Director of Labor Notes, Brenner said today: “Nearly 26 million people are suffering unemployment in one form or another this Labor Day, but in our upside down economy cutting the deficit somehow has become the alpha and the omega of economic policymakers. Why is it that the only folks that seem to count when it comes to charting the nation’s economic future are bankers and insurance industry executives? Working people have been paying the price for our wrong-headed economic priorities for more than a generation. Where are the pitchforks?”

For more information, contact at the Institute for Public Accuracy:
Sam Husseini, (202) 347-0020; or David Zupan, (541) 484-9167