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posted by martyb on Wednesday October 03 2018, @06:34AM   Printer-friendly
from the so-EVERY-Amazon-employee-gets-a-raise? dept.

Amazon announces $15 minimum wage for all US employees

Amazon is raising its minimum wage to $15 an hour for all US employees. The change takes effect November 1 and applies to full-time, part-time and temporary workers. Amazon says the $15 minimum wage will benefit more than 250,000 Amazon employees, plus 100,000 seasonal workers.

"We listened to our critics, thought hard about what we wanted to do, and decided we want to lead," said Jeff Bezos, Amazon's founder and CEO. "We're excited about this change and encourage our competitors and other large employers to join us."

The change applies to Whole Foods and all other subsidiary employees.

Amazon also said its public policy team will begin lobbying for an increase in the federal minimum wage, which has been $7.25 an hour since 2009.

See also: Bernie Sanders praises Jeff Bezos on Amazon $15 minimum wage

Previously: 'Stop BEZOS' Bill to tax Amazon for Underpaying Workers

Related: Injured Amazon Worker Describes High-Tech Dystopia Inside Texas Warehouse


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  • (Score: 2) by The Mighty Buzzard on Wednesday October 03 2018, @11:12AM (5 children)

    by The Mighty Buzzard (18) Subscriber Badge <themightybuzzard@proton.me> on Wednesday October 03 2018, @11:12AM (#743326) Homepage Journal

    That's not why inflation exists. Its purpose is to keep money from being hoarded rather than invested at all levels of income. Invested money is mobile money and provides a huge boost to the economy compared to mattress money.

    --
    My rights don't end where your fear begins.
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  • (Score: 3, Insightful) by c0lo on Wednesday October 03 2018, @11:31AM (2 children)

    by c0lo (156) Subscriber Badge on Wednesday October 03 2018, @11:31AM (#743334) Journal

    Invested money is mobile money and provides a huge boost to the economy compared to mattress money.

    Yeah, but... see... the more money you invest the large the bust that follows the boost.

    --
    https://www.youtube.com/watch?v=aoFiw2jMy-0 https://soylentnews.org/~MichaelDavidCrawford
    • (Score: 3, Interesting) by crafoo on Wednesday October 03 2018, @02:28PM (1 child)

      by crafoo (6639) on Wednesday October 03 2018, @02:28PM (#743393)

      Not sure if you're joking or not, but that is what happens. People go around hunting for new places to jam their cash into because saving it is a losing move.

      • (Score: 3, Interesting) by c0lo on Wednesday October 03 2018, @09:27PM

        by c0lo (156) Subscriber Badge on Wednesday October 03 2018, @09:27PM (#743681) Journal

        Not sure if you're joking or not, but that is what happens.

        I wasn't.

        People go around hunting for new places to jam their cash into because saving it is a losing move.

        If there was only the savings, it wouldn't be that bad.
        But they are jamming their future, not-yet-realized, income too - by borrowing from the banks.
        Which potentially means for every dollar invested from the savings another 9 dollars are "at the expense of the future" (see fractional reserve).
        And don't forget to add on top of it the "too big to fail".

        --
        https://www.youtube.com/watch?v=aoFiw2jMy-0 https://soylentnews.org/~MichaelDavidCrawford
  • (Score: 0) by Anonymous Coward on Wednesday October 03 2018, @10:59PM

    by Anonymous Coward on Wednesday October 03 2018, @10:59PM (#743731)

    That's not why inflation exists. Since the governments took all the money fiat, it's all about being able to finance deficit spending. That people other than the government can do the same is just a side-effect.

  • (Score: 1) by khallow on Wednesday October 03 2018, @11:00PM

    by khallow (3766) Subscriber Badge on Wednesday October 03 2018, @11:00PM (#743732) Journal

    Its purpose is to keep money from being hoarded rather than invested at all levels of income.

    My take is that it's just another tax on people and their wealth. For example, in the US, you get increased taxes from capital gains in an inflationary environment. If an asset doesn't increase in value, it'll increase in monetary price due to inflation and generate a tax. And of course, the US government is the largest borrower of US dollar-valued debt. Inflation helps reduce the future cost of that debt.