Since the dawn of man (or, perhaps capitalism), workers and management have disagreed on the impact of raising wages. For workers making less than $10 an hour, a few extra bucks a week can make a huge difference in terms of quality of life. Management, on the other hand, predictably suggests that raising wages kills jobs and inhibits hiring and man hours.
Despite the perception that minimum wage jobs are often held by teenage workers entering the job market, numbers from the Bureau of Labor Statistics (BLS) indicate that 49 percent of minimum wage workers are adult women, many of whom have children.
With this as the backdrop, the National Employment Law Center (NELP) has published a list of the 50 U.S. companies who have the most low wage workers. While not all of these companies pay the exact minimum wage they all pay very close to the wage floor. As you can see by the list, the companies listed also share a common trait of being massive, successful companies making major profits. Perhaps their universally low labor costs have something to do with that trend?
As expected, America’s largest employer, Wal-Mart, tops the list. NELP’s study looks into the genetic makeup of this dishonorable mention, and notes the majority (66 percent) of low‐wage workers are not employed by small businesses, but rather by large corporations where top executive compensation averaged $9.4 million.
The 50 largest employers of low‐wage workers have largely recovered from the recession and most are in strong financial positions: 92 percent were profitable last year; 78 percent have been profitable for the last three years; 75 percent have higher revenues now than before the recession; 73 percent have higher cash holdings; and 63 percent have higher operating margins(a measure of profitability).
$174.8 billion to shareholders in dividends or share buybacks over the past five years.
The largest companies in America have, for the most part, recovered from the recession while their workers are still feeling its entire effects. It is safe to say that we should soundly reject the argument that raising the minimum wage would harm large corporations. They don’t know harm well enough to claim it.
Via Making Change At Walmart: “According to a 2011 report (PDF), if Walmart started paying a $12/hour minimum wage, its workers currently earning less than $9 per hour could each earn $3,250 to $6,500 more per year before taxes. If Walmart were to pass this cost directly to shoppers, the average consumer would need to pay only 46 cents more per shopping trip, or $12.50 per year.”
Walmart could pay all of their employees a living wage (or close to it, at least) without losing a dime. Oh, and it would help out the federal budget a bit: roughly 80% of Walmart employees are on food stamps because they’re paid so little. Walmart is taking advantage of government-funded social programs to make up for what they choose not to pay their employees.
Obama and Pelosi need to bring back the minimum wage increase proposals, stat.
She wants the (ph)D
Not with that technique: no gloves, safety glasses, fume hood; the volume in the erlenmeyer flask is not suitable for what the flask allows; and the fumes from the left vessel are dangerously close to her nasal orifice. The only D she is asking for is Disaster.
You have earned my respect.
Here’s my 2nd year Calarts film!
aaaah i love it
I cant hahahha holyshit
all i can think is…
oh i had both of those in my pool
Did somebody say *camera zooms in on my face* Pizza
this is literally me
uhm i think thats leonardo dicaprio
well neither of us have won an oscar so it’s hard to tell
I swear, every time I see this my mood goes up by 967%
when you see someone attractive and you just
I was grumpy today and so my mom told me that she bought me something that would cheer me up. I told her that there couldn’t have been anything amazing enough to rid me of my grumpiness…
I was wrong…
Сhun, my little swimmer-rat
omgh look at this lil nugget.
oh sweet baby