Retailers and the Minimum Wage

There has been a lot of discussion and debate recently about the impact of a raise in the federal minimum wage (to perhaps as much as $10.10 per hour, compared to the current $7.25) on retailers — both large and small. And in 2014, 13 states are raising their minimum wage rate, as shown in the following USA Today chart. [Click on it for a larger view.]

 

So, what do a cross-section of retailers feel about raising the hourly minimum wage? To answer this question, Retail Owners Institute recently conducted a short online survey of retailers. Although the results may not be fully representative of retailers’ thinking, they are interesting.
Here are a few highlights of the results from the ROI survey:
  • 60 percent of the respondents do not want to see a rise in the minimum wage.
  • More than one-half of the respondents pay at least some of their employees less than $10.10 per hour.
  • Many of the respondents are concerned that raising the minimum wage will cause employees who already make more than the minimum wage to expect higher earnings for themselves.
Click the image to read more study results.

 

 

This entry was posted in Careers in Retailing, Part 2: Ownership, Strategy Mix, Online, Nontraditional, Part 5: Managing a Retail Business and tagged , , , , , . Bookmark the permalink.

3 Responses to Retailers and the Minimum Wage

  1. Pingback: Retailers and the Minimum Wage | Retailing | Sc...

  2. Pingback: What a Federal Wage Increase Could Mean for Your Business (Chart of the Week) -

  3. Pingback: What Do Container Store, Costco, and Whole Foods Have in Common? (Besides Their Success) | Retailing: From A to Z by Joel Evans

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