Discussion for article #234934
Good news. Every little bit helps.
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It is a small victory (although, $10 per hour by the end of 2016 doesn’t do much in terms of buying power now or then for their employees.)
No, I agree it’s small, but it is evidence that the labor unrest they’ve been facing is having an impact. And it might also be evidence of an improving labor market, since other companies have also recently announced wage hikes. Let’s hope there’s momentum behind this movement.
Also, a 10 percent wage hike for 90,000 workers might have some small ripple effect on the broader economy. Let’s say 90,000 workers making $12,000 a year get a 10 percent raise – that’s an extra $1200 a year. Multiply that by 90,000, and that’s an extra $100 million in buying power to potentially stimulate the economy.
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Trying to imagine how anyone lives on $10 an hour led to my comment, but I do agree with you. Each company that announces a wage hike has an impact, and things are moving in the right direction. And, money in workers’ pockets does stimulate the economy.
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Agree, especially making it on that pay in NYC.
It is not a victory. It is a low-ball offer from management that can and should be rejected.
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It’s an improvement, but how awful that an average of $10/hour and roughly two and a half days off a year is an improvement.