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Walmart's Raise Could Be A Turning Point For The Whole Economy

Huffington Post

Walmart just gave half a million people a raise. Could you be next?

The retail giant announced on Thursday that it would increase the minimum pay for its workers to $10 an hour, affecting roughly a third of its 1.4 million employees. [...]

Past studies have shown that, when Walmart moves into a location, it pulls down wages for other companies. Now that Walmart is raising pay, the retailer might have the opposite effect, suggested Catherine Ruetschlin, a Senior Policy Analyst at Demos, a public policy and advocacy group.

“Walmart is the largest retailer in the world; its practices set a standard for the rest of the retail industry,” Ruetschlin said.