Tag Archives: wage

LOUISVILLE, KENTUCKY – NOVEMBER 07: Republican Candidate for Governor of Kentucky, Attorney General Daniel Cameron and wife, Makenze Cameron, walk off of the stage after his concession speech at the Republican election watch party at the Marriott Hotel on November 7, 2023 in Louisville, Kentucky. LOUISVILLE, KENTUCKY – NOVEMBER 07: Republican Candidate for Governor of Kentucky, Attorney General Daniel Cameron and wife, Makenze Cameron, walk off of the stage after his concession speech at the… Source link

Walmart (WMT) announced plans to hike its average hourly pay to more than $17.50 on Tuesday. In a statement to U.S. employees, Walmart U.S. CEO and President John Furner said “starting next month, we’ll begin investing in higher wages for associates.” He added: “This includes a mixture of associates’ regular annual increases and targeted investments in starting rates for thousands of stores, to ensure we have attractive pay in the markets we operate. We expect these raises will bring our… Source link

With the labor market continuing to be super competitive, the baseline for hourly wages may be approaching $20 if companies want to attract badly needed talent, said one economist. “I am starting to see a willingness to hit the $18 an hour mark. I am kind of looking at that more as maybe where companies start to come in on a regular basis,” said Emsi Burning Glass chief economist Ron Hetrick on Yahoo Finance Live. “You had companies like Amazon who set the standard there. I think everybody… Source link

It’s just a good business decision to keep on raising hourly wages for workers as it will help retain the top talent that is driving strong sales and profits, explains Target CFO Michael Fiddelke. Target said this week it would lift hourly wages for workers in distribution centers, stores, etc. to $15 to $24 an hour depending on location and position. The total investment will amount to $300 million. The discounter revealed back in 2017 a desire to increase its minimum wage to $15 an hour by… Source link

Higher pay to retain and attract employees impacted Goldman Sachs profits, and the big bank’s CEO says companies across industries are experiencing the same thing. “There is real wage inflation everywhere in the economy. Everywhere,” Goldman Sachs CEO David Solomon told analysts on the company’s fourth quarter earnings call on Tuesday. In the final quarter of 2021, the bank logged $3.2 billion in expenses associated with compensation and benefits — a 31% increase compared to the same… Source link

The new year has ushered in a slew of minimum wage increases across the country. A total of 81 states and cities will be raising their minimum wages in 2022, and 44 cities will be increasing theirs to above $15 an hour. “These raises that took effect this week, combined with others scheduled for later this year, are the largest wave of minimum wage raises that we’ve seen,” Paul Sonn, state policy program director at the National Employment Law Project, said on Yahoo Finance Live (video… Source link

Inflation reached a three-decade high in October as some workers saw their wages rise, particularly younger workers. According to the Atlanta Fed’s Wage Growth Tracker, a measure of the nominal wage growth of individuals, workers in the 16-to-24 age range are seeing median wage growth accelerate much quicker than the rest of American workers, as seen below in the green line. As of September 2021, the overall 12-month moving average of median wage growth increased by 3.6%. Those in the 25-to-54… Source link

Walmart (WMT), the nation’s largest private employer, is raising wages for 565,000 of its nearly 1.2 million store associates, marking the retailer’s third wage hike for hourly associates in the last year. “Effective Sept. 25, associates in the Frontend, Food & Consumable and General Merchandise work groups will receive at least a $1 an hour raise. That means a raise for more than 565,000 store associates. It’s our third wage investment in store associates over the past year,” U.S…. Source link

Despite a labor shortage brought about largely by the COVID-19 pandemic, companies can find workers by offering “fair wages,” Brian Deese, the top economic adviser to President Joe Biden, told Yahoo Finance on Monday. Deese, the Director of the National Economic Council, pointed to coronavirus fears and child care obligations amid remote schooling as key reasons why unemployed Americans have stayed on the sidelines. However, employers can overcome these obstacles by providing fair… Source link

Long-time minimum wage fan McDonald’s is hiking hourly wages and it may not be such bad news for investors, even though their initial reactions suggest otherwise.  The land of 550-calorie Big Macs said Thursday it will raise hourly wages “by an average of 10%” for more than 36,500 employees at more than 660 company-operated U.S. restaurants. That will take the entry-level range for crew to at least $11 – $17 an hour. Starting wages for shift managers will go to at least $15 to $20 an… Source link