Alex Morrell, provided by Published 7:29 am CDT, Tuesday, April 9, 2019 Drew Angerer/Getty Images Bank of America Merrill Lynch is increasing the minimum wage for its workers. Starting in May, employees will earn at least $17 an hour. It will increase in increments to $20 an hour by 2021. The bank employs 205,000. Visit BusinessInsider.com for more stories. Bank of America Merrill Lynch is hiking its minimum wage, and by 2021 all employees will earn at least $20 an hour, the bank announced Tuesday. Starting May 1, the minimum wage at the bank will increase to $17 an hour. It will increase in increments over the next two years until it hits an hourly wage of $20, the bank said in a statement. That's nearly three times the US federal minimum wage of $7.25 an hour. "We are raising our minimum wage because we believe that to best serve our customers and clients, we need the best teams," Sheri Bronstein, chief human resources officer at the bank, said in the statement. … [Read more...] about Bank of America is hiking its minimum wage to $20 an hour — nearly three times the federal minimum (BAC)
Workers minimum wage
Amazon will raise workers’ minimum wage to $15 an hour, more than twice the federal minimum — here’s how many people in each state make minimum wage or less
Andy Kiersz, provided by Published 10:06 am CST, Friday, February 22, 2019 Joe Raedle/Getty Images Amazon announced in October 2018, that it plans to raise its minimum wage to $15 per hour for all of its US workers. The federal minimum wage in the US is $7.25 an hour. Minimum wage work has been on the decline in the US for several years, and the number of workers making the minimum wage or less varies widely across the states. Using data from the Bureau of Labor Statistics, we looked at how many hourly workers in each state earn the minimum wage or less. Amazon announced in October 2018, that it plans to raise its minimum wage to $15 per hour for all of its US workers. That's more than twice the federal minimum wage of $7.25 per hour. Minimum wage work has been on the decline in the US for several years, and the number of workers making the minimum wage or less varies widely across the states. The Bureau of Labor Statistics tracks how many people earned the Federal … [Read more...] about Amazon will raise workers’ minimum wage to $15 an hour, more than twice the federal minimum — here’s how many people in each state make minimum wage or less
AP FACT CHECK: Mayor hopeful omits context on minimum wage
Amanda Seitz, Associated Press Updated 12:09 pm PST, Thursday, February 14, 2019 FILE - In this Dec. 9. 2018 file photo, Cook County Board President Toni Preckwinkle speaks during a news conference at the Chicago Teachers Union headquarters in Chicago. Her campaign's claim, made on Twitter and on Facebook last week, says, "Toni Preckwinkle is the only mayoral candidate who has a plan to raise Chicago's minimum wage to $15." It's true that Preckwinkle has a detailed plan to raise the minimum wage — and fast. However, her claim ignores the city's existing law, which already guarantees the minimum wage will eventually reach $15 an hour. (Colin Boyle/Chicago Sun-Times via AP, File) less FILE - In this Dec. 9. 2018 file photo, Cook County Board President Toni Preckwinkle speaks during a news conference at the Chicago Teachers Union headquarters in Chicago. Her campaign's claim, made on Twitter ... more Photo: … [Read more...] about AP FACT CHECK: Mayor hopeful omits context on minimum wage
New Jersey reaches agreement to raise minimum wage to $15 an hour
New Jersey Gov. Phil Murphy and lawmakers reached an agreement Thursday to raise the state’s minimum wage to $15 an hour by 2024. The deal will apply to most workers in the state, and will take effect gradually over the next five years, according to NJ.com. The deal will raise the minimum wage to $10 an hour this July, and then raise it by $1 each year until 2024. Some workers, including employees at small businesses, will have to wait longer than five years. Farm workers’ pay, which held up discussions at multiple stages, will be capped at $12.50 in 2024, according to NJ.com. State officials will decide at that time whether to raise farm workers’ minimum wage to $15 an hour. A worker earning $15 an hour and working 40 hours a week would earn $31,200, before taxes, in a year. “No one working a full-time job should ever live in poverty,” Murphy tweeted Thursday. “Putting the minimum wage on a clear and responsible path to $15/hour is good for workers, … [Read more...] about New Jersey reaches agreement to raise minimum wage to $15 an hour
A wealthy venture capitalist who fought for raising the minimum wage in Seattle is on a mission to increase pay across America
Nick Hanauer is a wealthy, Seattle-based venture capitalist and progressive political activist. He successfully lobbied for a raise in Seattle’s minimum wage, and has been outspoken about raising it throughout the country, as a means for increasing economic growth. He pointed to recent research from the US Census Bureau that suggests raising the minimum wage does not eliminate jobs, as Econ 101 would suggest. This article is part of Business Insider’s ongoing series on Better Capitalism. Nick Hanauer and his wife are signers of the charitable Giving Pledge, meaning that their combined net worth is over $US1 billion. He’s also one of the most vocal champions for raising the minimum wage across the United States. As the Seattle-based investor explained it to Business Insider in a recent interview, it’s a matter of wanting the system to work better for everyone. “I want to hold capitalism to a high standard,” he said. And part of that, Hanauer … [Read more...] about A wealthy venture capitalist who fought for raising the minimum wage in Seattle is on a mission to increase pay across America