Tue. Jan 18th, 2022

OPINION: This article contains commentary which reflects the author’s opinion
Reminder : The purpose of the articles that you will find on this website is to EDUCATE our opinions and not to disinform or grow hate and anger!

In the face of increasing inflation, Hobby Lobby is the latest company to announce a raise in its minimum hourly salary for workers. The retailer’s surge to more than $18 puts it ahead of Walmart.

The full-time hourly salary for full-time employees at Hobby Lobby will rise from $15 to $18.50 effective January 1, 2022. The nationwide chain has increased the minimum wage 12 times in the last 13 years.

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Hobby Lobby CEO David Green states, “We have a long track record of taking care of our people.” On Sundays and at 8:00 p.m. the rest of the week, we decided to shut our businesses so that our workers could spend time with their families and attend church services.” Since our inception in 1996, we’ve worked tirelessly on our compensation and benefits programs to recruit and keep an exceptional set of employees to service our loyal clients,” the company said in a statement.

The minimum pay for full-time hourly employees at the arts and crafts business will be $17 in the autumn of 2020. Unlike Costco, which just raised its minimum salary to $17, and Target, which has a $15 minimum wage, Hobby Lobby’s new hike puts the company ahead of its competitors.

PNC Bank upped its minimum salary from $15 to $18 per hour earlier this year, while Bank of America has declared that its hourly wage would rise to $25 by 2025.. As of this summer, the minimum wage at Chipotle, Southwest Airlines, and CVS Health will all be $15 an hour. Starting salaries at Ikea in the United States have just been increased to $16 per hour.

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There hasn’t been an increase in the federal minimum wage in the United States since 2009.

Inflation in the United States has risen to a 39-year high, with consumer prices climbing 6.8% for the year ended in November, according to the Bureau of Labor Statistics. For a number of factors, many economists project inflation to continue around this level for the foreseeable future, before declining through 2022. People are not anticipating another run of high inflation like that which lasted for lengthy periods between 1973 and 1983.

Employers are also confronted with the “Great Resignation,” a phenomenon in which workers are leaving their jobs not just as a result of layoffs but also of their own free will.

Article Source : WayneDupree.com
OPINION: This article contains commentary which reflects the author’s opinion
Reminder : The purpose of the articles that you will find on this website is to EDUCATE our opinions and not to disinform or grow hate and anger!

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