Wages Rise to the Occasion

In 2012, the Obama administration began a campaign to raise the national hourly minimum wage from $7.25 to $9.80, and in 2013, the target changed to a national hourly minimum wage of $10.10. The Fair Minimum Wage Act, as it has been called, would raise the hourly minimum wage with three increases of ninety -five cents and increase the hourly minimum wage as the cost of living increases. A large sum of Americans supports the raise in wages, but an equally large sum is against it. As a result, the issue is a sore topic in Washington and has yet to be settled. However, in light of protests, unions and other factors, some companies recently decided to raise base pay for their employees without federal legislation demanding it.

Doug McMilon, CEO of Walmart, announced on February 19, 2015 that starting this April the base pay for Walmart employees is to be raised to $9.00 per hour and that next year it will be raised again to $10.00 per hour. Not long after Walmart’s announcement TJX Companies – owner of TJ Maxx, Marshalls, HomeGoods, and Sierra Trading Post - made a similar announcement. TJX has decided to raise the base pay for its employees as well, starting this June the base pay will be at $9.00 per hour. For all TJX employees who have been working with the company for six or more months, the base pay will be $10.00 per hour. Many other companies and franchises have raised the base pay for their employees in recent years and attracted many new applicants for job opportunities. Companies like Ben and Jerry’s, Whole Foods, Starbucks, Ikea, Costco, Gap Inc. and Shake Shack have raised the base pay for their employees and more companies are sure to follow their examples.