Amazon Raises Minimum Wage for U.S. Workers to $15 Per Hour

Amazon Raises Minimum Wage for U.S. Workers to $15 Per Hour”

The legislation would mandate that companies with more than 500 employees-like Amazon-foot the bill for government benefits their workers receive.

USA department store chain Target announced in September it would raise wages to $15 an hour by 2020.

Amazon, whose value topped an awesome $1 trillion in September, has been under political and economic pressure to pay its employees more. The move comes amid a national push from the labor-backed Fight for $15 movement to raise the minimum wage nationwide.

Labor advocates pushing to raise the federal minimum wage have an unexpected new ally: the richest man in world. It will climb to $13 in July 2019.

The move will affect all Amazon's workers - including seasonal and temporary staff employed via agencies.

Minimum wage work has been on the decline in the USA for several years, and the number of workers making the minimum wage or less varies widely across the states.

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But "we're sure $7.25 is too low", Carney said. Now, with the unemployment rate near a 50-year low and the number of job openings exceeding the number of unemployed, more lower-income Americans are finally receiving meaningful raises. That's a negative 1.3 point differential over the first eight months of the year, compared to a 0.8 point drop from January to August 2017. This wage has remained stagnant for almost a decade.

"Good for them. I'm in favor of higher wages", he told reporters.

Despite its domination, Amazon shares one potential hurdle that is growing higher for nearly all employers big and small: a tightening labour market. The raise, effective at the start of next month, will cover 250,000 workers and 100,000 seasonal employees, reports the Wall Street Journal.

"Jeff Bezos has become much more wealthy over the past decade, but his workers haven't", she said.

Some employers pay even more. About 2,000 of those are in the Houston area, according to a company spokeswoman.

Amazon, which became the second company after Apple to cross $1 trillion in market value last month, paid its USA employees on average $34,123 previous year.

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Critics of the company's compensation practices have included Sen.

Amazon employees now receive support for job training and health coverage, as well as retirement benefits and paid parental leave, the company said. "And that is that Mr. Bezos today did the right thing". For example, if an employee draws $US100 from food stamps, that person's employer would be taxed the same amount.

It's not the first time a major US corporation has boosted its minimum wage, Allegretto added.

Both Target and Walmart have said the wage hikes have benefited their businesses. Analysts said the raise would cost it $US1 billion or less annually but would be offset by a recent $US20 increase in the cost of its Prime memberships.

Target's CEO Brian Cornell recently said that the number of job applicants rose by 60 per cent in the days after Target increased its minimum wage by $2 to $11 per hour previous year. Higher pay for workers is one way of dealing with that.

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It has weakened by about 6.0 percent since mid-June, offsetting the 10 percent tariff rate by a considerable margin. The firms are anxious the tariffs will increase their costs since many of their products are manufactured in China.

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