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I hope they raise their prices accordingly now to offset the increased payroll expenses.
That should save some tax money as fewer employees will be eligible for government subsidies.
I wonder how many of them work enough hours to be eligible for employer paid health insurance?
Good. They deserve more though. This is a start.
So we can expect to pay lower taxes now that WalMart's done this?
You have no idea what you're talking about.
walmart has been under public pressure and a large union organizing drive for some time due to their pay abuses and employees having to file for public assistance - as suggested by walmart. walmart has cracked under the pressure and is being jerked into reality. So good for the organizing drive.
How much more? Where is the bottom line for 2015? What would be the correct no high school degree entry level job hourly wage be?
There are no entry level jobs any more. Just jobs. Mostly part- time or zero-hours contracts. Welcome to the post bankster-crash economy.
This won't take anyone off government subsidies and it won't satisfy the unions.
I was a waiter and then a bartender through college. Prior to that, I was a cashier. Those are entry level jobs.
I work in a industry that is filled with entry level jobs. Construction.
That was history. Today, a job is a job, even with no guarantee of any hours. The much-vaunted reduction in unemployment in Britain, almost exactly matches the rise in zero-hours contracts. A new full-time job is a rarity.
I believe you are mostly correct.That was history. Today, a job is a job, even with no guarantee of any hours. The much-vaunted reduction in unemployment in Britain, almost exactly matches the rise in zero-hours contracts. A new full-time job is a rarity.
How does price effect demand?
Does a low-income worker consume more? or less in government subsidies?
So we can expect to pay lower taxes now that WalMart's done this?
Not. They raised wages. Not in concert with the idea.
A low income worker obviously consumes more in government subsidies, hence, giving low wage workers a raise should lower the amount of government subsidies.
Shouldn't it?
Than one who is unemployed?
So we can expect to pay lower taxes now that WalMart's done this?
I believe you are mostly correct.
And what would you say is the reason for that?
I hope they raise their prices accordingly now to offset the increased payroll expenses.
They might decide to do that, or they might decide to keep competing with other retailers for customers based upon price. I suspect that they will decide to stay price competitive so that their bottom line doesn't fall.
I am not experiencing that here in CT. My company has a factory here with a largely undegreed work force. Full time, benefits and a decent wage with bonuses.
They might decide to do that, or they might decide to keep competing with other retailers for customers based upon price. I suspect that they will decide to stay price competitive so that their bottom line doesn't fall.
There is really little connection between operating costs and end price, other than the operating cost creates a floor price. Companies typically don't price goods at the floor price because that would prohibit a profit. Generally companies price goods at what they feel is the profit maximizing price.
I see no reason why Walmart would chose to recoup the cost by increasing their price above the profit maximizing price, as that would necessarily result in lower profits, which of course would defeat the purpose.
But thanks for allowing me to give you my short version of my lecture on price theory.
didn't they make like $18B in profit a year ago?
Both on line and through ABC news we learn that walmart has capitulated:
Walmart Gives 500,000 Workers A Raise
For some time in these discussions about walmart abuses and organizing drives I predicted that the pressure would defeat them. Within a year the starting wage at walmart will be $10 an hour. This will of course increase the strength of the organizing drive and have a good effect on the drives for Mcdonald's as well.
Nice work.