Walmart Giving All Employees a Raise to $10/Hour

[King]

They're still completely awful. Leaving aside that the living wage should be much higher than that, Walmart by doing this plans to fire even more workers (despite being understaffed), and they're cutting their workers hours to about 15-20 per week. So those that will remain employed at this hellhole beyond 2016 will still make a yearly income at around or below the federal poverty line. Oh and no benefits either.

That will only happen if MBA falsehoods about the minimum wage are true. It's quite likely Wal-Mart will see a huge growth in revenue similar to Costco and will not follow through with plans to terminate employees.

[King]

A missing part of this too is that Wal Mart is the tone setter in the industry as the #1 competitor across price points. If Wal-Mart is paying $9-10/hr and its well known among the community, Target, Kroger and Albertson's will have to follow suit to justify their slightly higher price point.

Wal-Mart basically just usurped the Congress and raised the federal minimum wage.

[King]

The reason their doing this appears is that they're losing market share to Amazon and other online retailers and now all that is left is bad customer service from depressed employees. 

[King]

Ugh.  Not enough.  The min. wage should be $15 at the least but all we are going to hear is "praise Money-Jesus the invisible hand has saved us all again!"

Hey man, glass is half full here. For your purposes, the left can use this as proof the economy and businesses are willing to expand it and demand 15.

But be happy to see this happen.

The real hurdle is food service workers. I can't see any fast food company willing to make a move like Wal-Mart to shake up the industry. The only ones that would like Chipotle and Starbucks don't really hire bottom of the barrel food employees to begin with; it would have to come from McDonalds or Dunkin Donuts or the like.

[King]

You all have to excuse AggregateDemand, guys. He was abandoned as a child and raised by a self-checkout machine. The subject of their uselessness leaves him slightly more defensive and less unemotional than usual. Luckily, an associate has been notified to assist us.

[King]

Work is not hard to find right now. Anyone can get the job you're talking about right now.  Teens don't want to work and a lot of their parents don't want them to. There is so much more pressure on college acceptance for today's youth that many are told to focus on academics and extra curricular than working.

[King]

This is all true, but work, at a living wage, remains very hard to find for those without very specific professional skills and licenses. It's one thing to be employed. It's something very different to be able to pay the rent and have enough money left over to pay all the rest of the bills.

Yeah, we know that, but AD is clutching his pearls at the idea that poor innocent teenagers want to work for $5/hr but because of the minimum wage of $7.25 they are unable to find these jobs. This is not true.

[King]

Furthermore, work is difficult to find, though, such declarations should be obviated by sagging wages, high unemployment for the under-24 demo, and falling labor force participation rate.

So I just tell the fast food place by my work that has had a NOW HIRING sign up for months now on the side of their building that the problem is not that nobody wants to work there but that their jobs really don't exist because a guy on an internet says the data doesn't show they do.

[King]

AggregateDemand existing is an interesting social experiment. His thought process appears to be of someone who completely skipped K-12 school, and all the experiences that comes with it, skipped undergraduate work, and just straight up earned a Masters in Finance. He his knowledge tree begins and ends at the borders of an economics textbook.

[King]

AggregateDemand existing is an interesting social experiment. His thought process appears to be of someone who completely skipped K-12 school, and all the experiences that comes with it, skipped undergraduate work, and just straight up earned a Masters in Finance. He his knowledge tree begins and ends at the borders of an economics textbook.

What's not amusing about the situation is that I'm the one who works in the industry, maintains my own business, and has academic/professional credentials to my name.

I didn't skip K-12. It seems I'm one of the few people who learned something after 12th grade.

Wait,  you own a fast food joint? I thought you had clients that made huge amounts of money.

[King]

I talked to someone I know who works overnights at wal mart and they're giving everyone on that shift two $1/hour raises in the upcoming months.  Their wages will all go up at least 15%.

THE WORLD IS ON FIRE
OBUMMER ECONOMY