Amazon's new $15 minimum wage vs. Jeff Bezos' hourly earnings

Amazon's new $15 minimum wage vs. Jeff Bezos' hourly earnings

Amazon's new $15 minimum wage vs. Jeff Bezos' hourly earnings

Using data from the Bureau of Labor Statistics, we looked at how many hourly workers in each state earn the minimum wage or less. "Let me take this opportunity to thank the many hundreds of Amazon workers who contacted our office talking about the wages and working conditions that they were employed under".

Amazon's founder and CEO is encouraging other companies to follow their lead.

Doug Gurr, Amazon vice-president and UK Country Manager, said: "We're excited to announce we are raising our minimum wage for employees from November 1".

Minimum wage employees are more likely to progress to higher pay if they are Irish nationals, older workers, better educated, and in fulltime, permanent employment.

Even more importantly, Amazon says it will begin advocating for an increase in the Federal minimum wage.

The company - which offers online shoppers a combination of ease, speedy delivery and choice that few can match - has faced criticism of its labor practices, including grueling working conditions and lack of job security. It also adds to momentum for wages, which have been stagnant for 20 years. Only one state - Washington - had a minimum wage above $8 an hour.

Amazon wants people to know it supports higher wages for workers at other companies too.

At a press conference in September where he formally introduced the bill with Rep. Ro Khanna (D-Calif.), Sanders said Bezos could set a great example by raising wages.

In another change, Amazon will phase out its Restricted Stock Unit program for order fulfillment and customer service employees who are paid hourly.

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"This will impact more than 37,000 employees across the country, resulting in higher pay for them and their families".

Jay Carney, senior vice president of Amazon Global Corporate Affairs, also revealed that Amazon will be lobbying to raise the current $7.25 minimum wage.

The largest USA retail employers have been leading the effort to increase the minimum wage.

Current pay for warehouse workers at Amazon is at least $12.25 an hour in Omaha, Nebraska, $13 in Baltimore and $16.50 in NY, according to recent job postings.

The unemployment rate in August was 3.9 percent, near an 18-year low.

After years of sluggish pay gains, the economy may be starting to work for America's low-wage workers. If Amazon was contemplating minimum wage changes when Sanders made waves, there was no need for Amazon to push back so hard against him.

The movecomes as Amazon was under fire for an median employee salary of $28,446.

Neil Saunders, managing director of the consultancy GlobalData Retail, said that the move could help Amazon recruit workers.

Earlier this year, Target increased its minimum wage for employees to US$12, with plans to raise it to US$15 by 2020.

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