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TORONTO — Before noon today, Canada’s highest-paid CEOs will earn more than the average working person’s income for all of 2017.

That’s the conclusion of the Canadian Centre for Policy Alternatives, an Ottawa-based think-tank that has tracked CEO compensation in this country for a decade.

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It says this year’s elite group of chief executive officers will earn the average, full-time Canadian wage by 11:47 a.m. on Jan. 3 — the first working day of 2017.

Last year, it would have taken about half an hour longer —until 12:18 p.m. on the second working day of 2016.

Hugh Mackenzie, a Toronto-based independent economist who wrote the Policy Alternatives report, says the clock analogy is a powerful way to illustrate a widening gap between what top executives get paid and what average Canadian workers earn.