Just looked at my intro to accounting course, looks boring as shit but I have no idea what else to major in because im going to a tier 2 school. What would be a better double major Accounting and computer information systems Or accounting and finance Im thinking the first one
Double that to $14/hour and it's $67 of sales PER associate PER hour just to pay for employees.
Times that by the 1.3 million workers effected, say they average 30 hours a week that's $2.6 Billion a week JUST for employees JUST to break even.
Never mind the $100,000 electric bill each store has, or the vendors, water, sewer, garbage, trucks, damage, returns, warehouses that generate no money, callcenters that generate no money.
I'm not against raising a minimum wage, I'm not against leaving it where it is, but the average person doesn't realize the MASSIVE expense that creates, and with stores operating on razor thin margins, it could be disaster to shock the system.
Looking at your example, Walmart has 1.4 million employees in the US. Based on their average of 34 hours a week, and that all of them will get a $5 an hour raise (they pay $10 currently), that would cost them $12.4 billion or so. They have profits of about $27 billion, so that would be just under half of them. In the scheme of their overall expenditure of more than $450 billion, of which wages account for barely more than 5%, it's a drop in the ocean. They could eat the expense without needing to raise prices at all, though an increase in turnover of just 2.5% would be enough to cover it.
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