Amazon will now pay $15 minimum wage across the US

Amazon will now pay $15 minimum wage across the US

Amazon said its public policy team will start pushing for an increase in the federal minimum wage of $7.25 per hour. The retail giant, run by the world's richest man, was criticized earlier this year after revealing its workers' median pay was $28,446.

Aside from the wage hike, Amazon still offers a variety of other benefits that are rarely found at minimum wage jobs. Chukumba estimates that the wage increase will cost Amazon an incremental $900 million to $1.8 billion a year, or less than 0.7% of the company's 2019 estimated sales of $287 billion.

"We listened to our critics, thought hard about what we wanted to do, and decided we want to lead", CEO Jeff Bezos said in a statement.

If you work for Amazon, there's a good chance you're waking up to some surprising and welcome news this morning. The company was singled out by Senator Bernie Sanders last month, with Sanders proposing a bill that would have forced Amazon to repay any government assistance taken by Amazon workers to make up for sub-par wages.

Amazon was listing starting pay of about $10 an hour when it opened the facility.

Amazon made the announcement on a company blog this morning.

"What Mr. Bezos has done today is not only enormously important for Amazon's hundreds of thousands of employees, it could well be a shot heard around the world", said Sanders in a statement. At the time, Bezos said that "doesn't describe the Amazon I know".

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After months of intense public pressure from progressive lawmakers like Sen.

The big unanswered question is why Amazon is making this wage increase, and why now? The unemployment rate is 3.9 per cent, near an 18-year low. It helps them save money that would be lost as trained workers leave for higher pay elsewhere.

"They'll gladly cross the street and take a better-paying job", said Marc Wulfraat, president of MWPVL, a supply chain consulting company.

Amazon confirmed that it is phasing out its incentive pay component, replacing it with the $15 per hour minimum and no targets attached.

Amazon, which has been under fire over its pay for low-ranking workers, is increasing its minimum wage to $15 an hour. With a healthy USA economy, Americans looking for work have an increaseng number of job options, so Amazon has to find ways to entice people to join its company.

In 2008, most states had a minimum wage between $6.55 (then the federal minimum wage) and $7.25, according to the Labor Law Center. Amazon won't ask Congress to raise the minimum to a specific number.

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