Starting next month, Walmart employees will see an increase in their salaries. How much will it be and who will it benefit? Next, we explain.
Starting next month, employees of Walmart stores and warehouses in the United States will see an increase in their salaries with the aim of retaining and attracting workers to the company in a highly competitive labor market.
According to official information from Walmart Inc., the minimum hourly wage will increase from $12 to $14 an hour, reflecting pressure from big chains to raise wages in a battle for labor, according to experts on the matter. .
Currently, Walmart has a total of 1.7 million workers, only in the United States, of which 94 percent have a contract in which they are paid by the hour, according to the latest annual presentation of values. Obtained by CNN.
“We will start investing in higher salaries for associates. This includes a combination of regular annual increases from associates and targeted investments in start-up fees for thousands of stores, to ensure that we have attractive wages in the markets in which we operate,” read the statement signed by the head of Walmart in the United States. United, John Furner.
Author Rick Wartzman's new book uses Walmart to argue that corporate America is still underpaying workers, a problem that he says could be solved with a national minimum wage set at $20 an hour – almost triple the current level. https://t.co/RdpsT9tWv1
— CBS News (@CBSNews) January 17, 2023
Wage increase at Walmart: When will it be reflected?
According to the same statement, the increases will be reflected in paychecks starting next March 2. With the increase in the hourly minimum wage, the average wage is expected to rise to more than $17.50 an hour.
Despite the salary increase, there are those who believe that the amount is still low. Ideally, according to author Rick Wartzman, the country should raise its minimum wage to $20 an hour, which is almost triple what it currently is.
Minimum wage in the United States
The minimum wage in the American Union is $7.25 an hour. The last time the federal minimum wage was increased in the United States was 14 years ago. However, there are states where the salary is higher.