I worked in retail management for 35 years. The most frustrating part of the job was every fall beginning the fight with corporate to give raises to the people that actually did the work.
As hair pulling as ‘Black Friday’ and the day after Christmas were, they actually seemed like holidays from the fight.
‘By 2020, more than one-quarter of U.S. workers will be working low-wage jobs, not making enough money to keep a family of four out of poverty’.
‘The retail industry is one of those that employs the most low-wage workers. (About 36 percent of low-wage workers work in retail.)’
‘The retail sector takes in more than $4 trillion annually and firms with 1000 or more employees account for more than half of that’.
‘At the same time labor compensation in the sector contributes only 12 percent of the total value of production, making payroll just a fraction of total costs’.
‘Large retailers could pay full-time, year-round workers $25,000 per year and still make a profit – satisfying shareholders while rewarding their workers for the value they bring to the firm. A raise at large retailers adds $20.8 billion to payroll for the year, or less than 1 percent of total sales in the sector’.
‘Meanwhile, “if retailers pass half of the costs of a wage raise on to their customers, the average household will see just 15 cents added to the cost of its shopping basket on any trip to a large retailer. That amounts to an annual cost of $17.73.”
From : http://thinkprogress.org/economy/2012/11/19/1217041/retailers-afford-wage-increase/?mobile=nc
And from The American Conservative :
‘Even a large increase in the minimum wage would have very little impact on America’s international competitiveness since almost everyone employed in our surviving manufacturing export sector – whether in unionized Seattle or non-union South Carolina – already earns far above the current minimum wage. The same is also true for government workers, resulting in negligible increased cost to taxpayers’.
@ : http://www.theamericanconservative.com/articles/raising-american-wages-by-raising-american-wages/
The American Conservative does spend 3/4 of their paper on this type of crap :
“Although our bipartisan elites regularly suggest higher education as the best elixir for what ails our economy and its workers…..’
Can you say Rick Santorum?
We don’t live in a bubble. The rest of the World knows and understands the value of education.
But an argument for another day.
“The two papers do differ on how much of an increase in cost this would be, with one finding a total increase of 3% while the other finding a total increase of 0.5%’.
‘The difference between these two on the average retail purchase price change varies from $17.73/year to $106.34/year’.
From : http://www.addictinginfo.org/2012/11/19/studies-on-both-sides-say-to-increase-the-minimum-wage/