Wal-Mart announced on Thursday it would lift its minimum U.S. wage to $9 an hour this year and $10 in 2016, raising the ante in a tightening labor market where low-skilled workers easily move between retailers and fast-food chains. Labor and shareholder activists will likely use the news to ratchet up pressure on companies which have so far faced less scrutiny than Wal-Mart, the largest private U.S. employer with a workforce of 1.3 million. “This is the largest retailer out there so I think others are going to have to follow,” said Brian Yarbrough, analyst at Edward Jones, naming Target and Staples Inc among other national retailers that may look to revise their pay scales. When Gap Inc a year ago set its minimum wage at $9 an hour and pledged to go to $10 in 2015, many workers at Wal-Mart sought to switch and secure employment at the apparel retailer, according to Burt Flickinger, managing director of Strategic Resource Group, a retail industry consultancy.
via Business News http://ift.tt/1EbH5ab
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