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Up To $19 Minimum Hourly Wage Increase For Store Workers, Walmart Says

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Walmart Retail Corporation {Photo: WWD]
Walmart Retail Corporation {Photo: WWD]

On January 24, Walmart has announced that they will increase the minimum hourly wage of their store workers by up to $19. Apart from the store workers, Walmart will also increase the hourly wages of its associates and the overall minimum wage.

Walmart Store Workers [Photo: Eat This, Not That]

Walmart Store Workers [Photo: Eat This, Not That]

On January 24, Walmart has announced that they will increase the store’s overall minimum wage to $14 per hour. This is around a 17% increase for workers who serve customers and stock shelves in the store. The minimum wage of store workers will also increase to $14-$19 per hour which is an increase from the $12-$18 per hour. Walmart’s associates will also have an increase in their minimum wage of more than $17.50 per hour from $17 per hour. Around 340,000 Walmart workers or 21% of the 1.6 million U.S. workers will receive this increase. Some of the increases will be received by the workers whose jobs are in the parts of the country where the labor market is more competitive.

According to Cavale, the president and CEO of Walmart U.S., John Furner, announced the increase in a note published on Walmart’s website for the workers. Furner says that the initiative is part of the effort of Walmart to retain its jobs and workers. The increase includes a combination of annual increases for the associates and the minimum hourly wage increases for thousands of Walmart stores. Furner adds that the changes will reflect in the workers’ paychecks this coming March.

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Wage Increase Despite Layoffs

According to Wile, there is still a huge demand for low-wage workers despite the layoffs among tech and white-collar jobs. Apart from Walmart, retail giants such as Amazon, Target, and Costco have announced increases in salary as well. Economic research director Nick Bunker stated that the recent layoffs are not a prelude to an extensive unemployment. If employers believe that the labor market is about to decline, they would not consider increasing the wages of their employees. Employers, especially in the retail industry, are still facing a strong competition in hiring workers.

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