The rich world needs higher real wage growth

The rich world needs higher real wage growth

CENTRAL bankers and economists have spilled much ink in recent years on the question of why wages have not grown more. The average unemployment rate in advanced economies is 5.3%, lower than before the financial crisis. Yet even in America, the hottest rich-world economy, pay is growing by less than 3% annually. This month the […]

Pretzel Logic: CEO Admits He Didn’t Know What He Was Talking About When He Advocated a $15.00 Minimum Wage

Pretzel Logic: CEO Admits He Didn’t Know What He Was Talking About When He Advocated a $15.00 Minimum Wage

By Robert Wenzel ​Bill Phelps, co-founder and chief executive officer of the California-based Wetzel’s Pretzels franchise, was a prominent advocate for the Golden State’s $ 15 a hour minimum wage for several years, but has recently changed his opinion, reports the Washington Examiner. He now says that the rate — which has only just reached $ 11 — is already […]

Union-Backed Democratic Congressman Rejects $15/hr Minimum Wage

Union-Backed Democratic Congressman Rejects $15/hr Minimum Wage

Longtime incumbent Democratic Rep. Dan Lipinski and his primary rival, Marie Newman, revealed gaping ideological differences over key issues during an interview with the Chicago Sun-Times editorial board over the weekend. The gap could prove pivotal in an Illinois district that went for Bernie Sanders in the 2016 presidential primary by 8 points. In major areas, Lipinski […]

U.S. wage growth, tax-bonuses spark shopping in retail stocks

NEW YORK (Reuters) – U.S. fund managers are betting that rising wages and the effects of the Republican-led corporate tax cut will prove a lifeline to middle-market retailers who have struggled to remain relevant in the age of Amazon. Wells Fargo, CM Advisors and Plumb Funds are among those asset management firms that are increasing […]

Walmart Pulls Devious Two-Step by Pairing Wage Hikes With Mass Layoffs

Walmart Pulls Devious Two-Step by Pairing Wage Hikes With Mass Layoffs

Walmart, the US’s largest private employer, announced to much fanfare on Thursday that it is raising the company-wide minimum wage from $ 10 to $ 11 — a move eagerly touted by President Donald Trump. However, Walmart didn’t loudly announce that it was, at the same time, moving to shut down more than 60 Sam’s Club stores nationwide and […]