Millennials have preferences for consumption that differ significantly from those of earlier generations because: (a) they are anti-materialists and want less stuff. (b) they are less well-off than members of earlier generations were when they were young. (c) they have lower earnings, fewer assets, and less wealth. (d) answer choices (b) and (c) are correct…. Read more »
Posts Tagged: living wage
You mean, pay matters?
Remember when sales at Walmart stores open at least a year fell for five straight quarters and the company’s revenue fell for the first time in Walmart’s 45-year run as a public company in 2015? According to the New York Times, this is how they changed the dissatisfaction that customers felt. Questions: 1. What was… Read more »
A Good Thing or A Bad Thing? WOW!
Three months ago, Dan Price announced he was setting a new minimum salary of $70,000 at his Seattle credit card processing firm, Gravity Payments, and slashing his own million-dollar pay package to do it. The result has been turmoil, both internally and externally. Questions: 1. What new costs has Mr. Price faced since his announcement… Read more »
Maybe This Will Catch On?
Complaining of low profit margins that generally accompany inexpensive menu items, most fast-food restaurants try to keep wages down. However, some fast food chains are seeing the benefit in paying employees above minimum wage and even above the median hourly wage for fast-food workers nationwide of $8.83, because it allows their workers to opportunities to… Read more »
Low Pay in the News
Thousands of fast-food workers in the went on strike in cities across the U.S. this summer. Why? They were demanding a living wage of $15 per hour and the right to unionize, but their efforts failed. Several industry groups purport that low- and minimum-wage workers are now growing faster than any other group of earners… Read more »