Markets

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.

Ronaldo's sending off to be reviewed
German referee Felix Brych consulted with his assistant and opted to send the Portuguese star off. He continued: " A lot will depend on the referee's report as well ".

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.

North Korea, South Korea begin ‘era of no war’
Stop military drills aimed at each other along the Military Demarcation Line, which divides the two countries, by November 1. Meanwhile, however, Moon and Kim made concrete moves of their own to reduce tensions on their border.

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.

Trump accuses China of election meddling in trade war
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.



Like this

Latest


03 October 2018
Trump aided family members in tax fraud
They revealed Trump received at least $US413 million in today's dollars from when he was a small child through the present day. But the newspaper said its exhaustive investigation of tax returns and confidential records found this was not true.

01 October 2018
NAFTA talks run up against deadline; U.S. tariffs remain tough issue
In August, Trump said that the United States and Mexico had reached an agreement in their NAFTA talks. The U.S. exported more goods to Canada previous year than to China, Japan and Germany combined.

27 September 2018
Trump voices frustration over Senate delays for Kavanaugh
In a statement released by the White House, Kavanaugh said, "This is ridiculous and from the Twilight Zone. Washington Post congressional reporter Sean Sullivan joins CBSN with the latest developments.

26 September 2018
China says won't weaken currency to boost exports, as USA tariffs mount
It shouldn't be to shrink trade with China, much less cripple its economy. And we will come back with more if they retaliate. But many analysts were skeptical .

26 September 2018
Bill Cosby sentenced to 3 to 10 years in prison
The classification means that Cosby must undergo monthly counseling for the rest of his life and report quarterly to authorities. Montgomery County District Attorney Kevin Steele rejected the notion that "age, infirmity, should somehow equate to mercy".

26 September 2018
Paul Pogba wants return to Italian club Juventus
He has indicated privately he will not look to force a transfer in January but will reassess his options at the end of the season. We had the personality to take penalties and play the way we did.

25 September 2018
Paul Pogba faults Jose Mourinho’s tactics after Man United’s draw with Wolves
They had (it), we didn't. "Maybe we should have showed more hunger..." "We didn't lose, but for me we should have won". Pogba is simply speaking the truth when he says United need to be more attacking.

22 September 2018
SpaceX to announce private moon flight passenger
He also desires to take the artists with him to convert the entire trip into an art project that will be known as #dearMoon . Musk also anticipates SpaceX's Starlink satellite system to be operational by then, which he said will aid in the broadcast.

20 September 2018
Indian cabinet clears ordinance to make triple talaq penal offence
Between January 2018 to August. the Parliament sessions were a washout because of which the Bill was not tabled in Parliament. Others, like neighbours, can not lodge an FIR to prevent misuse of the proposed law.

20 September 2018
Butler asks for deal from Timberwolves
He informed Timberwolves president and coach Tom Thibodeau of the request during a meeting Tuesday in Los Angeles, sources said. Bovada released odds on where Butler will play his first game of the season, and the Heat did not make that eight-team list.



Recommended