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Today, @walmart announced it is raising wages for ~a quarter of its frontline associates from $11-$13/hr min.
A
on why the reality is far less than most headlines suggest.
Tl;dr: No, it isn't $15/hr. 1/
(Kudos to @nmeyersohn for accurate reporting) https://www.cnn.com/2021/02/18/investing/walmart-minimum-wage-retail/index.html
A
on why the reality is far less than most headlines suggest. Tl;dr: No, it isn't $15/hr. 1/
(Kudos to @nmeyersohn for accurate reporting) https://www.cnn.com/2021/02/18/investing/walmart-minimum-wage-retail/index.html
The starting wage at @Walmart is $11/hr.
After today's announcement, the starting wage is $11/hr.
Or < $23k/year, and far less for PT workers.
Walmart's pay is so low that it is among top employers of employees on food stamps and public assistance. 2/ https://www.cnbc.com/2020/11/19/walmart-and-mcdonalds-among-top-employers-of-medicaid-and-food-stamp-beneficiaries.html
After today's announcement, the starting wage is $11/hr.
Or < $23k/year, and far less for PT workers.
Walmart's pay is so low that it is among top employers of employees on food stamps and public assistance. 2/ https://www.cnbc.com/2020/11/19/walmart-and-mcdonalds-among-top-employers-of-medicaid-and-food-stamp-beneficiaries.html
Walmart hasn't raised its starting wage since 2018.
Since then, many of @walmart's closest competitors have raised their starting pay to $15/hour, including @amazon @Target @costco @bestbuy.
(Data from @StatelerLaura @JuliaTDu and my report https://www.brookings.edu/essay/windfall-profits-and-deadly-risks/)
3/
Since then, many of @walmart's closest competitors have raised their starting pay to $15/hour, including @amazon @Target @costco @bestbuy.
(Data from @StatelerLaura @JuliaTDu and my report https://www.brookings.edu/essay/windfall-profits-and-deadly-risks/)
3/
In its press release today, @Walmart emphasized that the *average* wage of @Walmart associates will now > $15/hour.
*Average* wages reflect diversity of roles, seniority & impact of higher state/local min wages that compel Walmart to pay more.
Average wage is NOT a min wage. 4/
*Average* wages reflect diversity of roles, seniority & impact of higher state/local min wages that compel Walmart to pay more.
Average wage is NOT a min wage. 4/
For instance, @costco's starting wage is $15/hr for all employees.
But Costco's *average* wage is far higher and exceeds $23/hour, according to @StatelerLaura and my communication with @costco leadership.
5/
But Costco's *average* wage is far higher and exceeds $23/hour, according to @StatelerLaura and my communication with @costco leadership.
5/
A company's wage floor matters.
Especially in a deadly pandemic, when COVID-19 risk does not discriminate based on wage.
And especially for the country's largest private employer, which employs > 1.5 million frontline #EssentialWorkers.
It speaks to a company's values.
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Especially in a deadly pandemic, when COVID-19 risk does not discriminate based on wage.
And especially for the country's largest private employer, which employs > 1.5 million frontline #EssentialWorkers.
It speaks to a company's values.
6/
@walmart will raise pay for ~425,000 associates, especially those in jobs at forefront of technological change & fast-growing online order fulfillment.
As @nmeyersohn described, these jobs are higher pressure and more physically demanding.
https://www.cnbc.com/2020/11/19/walmart-and-mcdonalds-among-top-employers-of-medicaid-and-food-stamp-beneficiaries.html
7/
As @nmeyersohn described, these jobs are higher pressure and more physically demanding.
https://www.cnbc.com/2020/11/19/walmart-and-mcdonalds-among-top-employers-of-medicaid-and-food-stamp-beneficiaries.html
7/
The news of @Walmart's pay bumps came amidst its Q4 earnings.
In Q4, buoyed by federal $ via relief checks:
US sales 
8%
US operating profit 17%
In Q4 alone, @Walmart spent $1.4 BILLION buying back its shares.
Compared to $388 in COVID-19 #hazardpay.
8/
In Q4, buoyed by federal $ via relief checks:
US sales 8% US operating profit 17%In Q4 alone, @Walmart spent $1.4 BILLION buying back its shares.
Compared to $388 in COVID-19 #hazardpay.
8/
In short, @Walmart has not raised its min wage to $15/hour.
But it should.
Walmart has repeatedly *praised* its frontline #EssentialWorkers. But compared to competitors, it has done far less to *pay* them.
https://www.brookings.edu/blog/the-avenue/2020/12/22/amazon-and-walmart-have-raked-in-billions-in-additional-profits-during-the-pandemic-and-shared-almost-none-of-it-with-their-workers/
Raising starting wage = a needed start.
9/
But it should.
Walmart has repeatedly *praised* its frontline #EssentialWorkers. But compared to competitors, it has done far less to *pay* them.
https://www.brookings.edu/blog/the-avenue/2020/12/22/amazon-and-walmart-have-raked-in-billions-in-additional-profits-during-the-pandemic-and-shared-almost-none-of-it-with-their-workers/
Raising starting wage = a needed start.
9/
Not only @walmart workers who deserve a raise.
So do ~19 mill frontline #EssentialWorkers in occupations w/ median wage <$15/hr (2018).
The pandemic highlights their essential value -- & unwillingness of employers to pay more.
Congress must act. 10/ https://www.brookings.edu/blog/the-avenue/2021/02/05/essential-workers-deserve-minimum-wage-increase/
So do ~19 mill frontline #EssentialWorkers in occupations w/ median wage <$15/hr (2018).
The pandemic highlights their essential value -- & unwillingness of employers to pay more.
Congress must act. 10/ https://www.brookings.edu/blog/the-avenue/2021/02/05/essential-workers-deserve-minimum-wage-increase/
