Saturday, February 4, 2023

Retail giant Walmart raises lowest pay in America

Retail giant Walmart, the largest private employer in the United States, announced Tuesday that it will raise the lowest wages at its stores in that country, from $12 to $14 an hour.

With the move, Walmart expects the average compensation of hourly workers to exceed $17.50, according to its president and CEO, John Furner, in a message to employees made public by the company itself.

Walmart, which has approximately 2.3 million employees worldwide, employs approximately 1.7 million people in the United States, the vast majority on an hourly basis.

The measure announced today, which will be reflected in payrolls as of March 2, is expected to benefit about 340,000 workers, according to economic media.

For many years, Walmart in the United States has been attacked by union leaders and politicians for its low wages, which serve to mark the actual minimum wage in many states, where this figure exceeds the federally set minimum wage. , which is $7.25 an hour and has not changed since 2009.

As Ferner explained, the measure is intended to ensure that Walmart offers “attractive” remuneration in the markets in which it operates.

The wage increase comes at a time of strong labor demand in the United States, primarily in sectors such as retail and hospitality, where wages are generally low and where many companies are having trouble retaining workers.

In December, the unemployment rate in the country fell to 3.5% and according to last month’s data, there are more than one crore vacancies in the US.

Nation World News Desk
Nation World News Desk
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