The latest: Kudlow says that the increase in wages is not inflationary
The latest: Kudlow says that the increase in wages is not inflationary
The latest in a wage increase of more than 350,000 workers in Amazon.com (all local times):
11:25 a.m.
The main economic adviser of the White House He said that more people who work and prosper are not inflationary in response to massive wage increases announced by Amazon.
Larry Kudlow, head of the National Economic Council, said he is in favor of higher wages and said "Good for them," in reference to the wage increase announced by the Seattle company on Tuesday.
Amazon is raising its minimum wage for all workers in the US UU At $ 15 per hour from next month and will increase the salary for employees who earn more than that. The salary increases will benefit more than 350,000 people.
Kudlow referred to "wage push" inflation, when the cost of goods increases as employers increase prices to pay more to workers.
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10:40 a.m.
For a long time, an Amazon.com critic on his salary practices, Senator Bernie Sanders praises the company for the increases that will reach hundreds of thousands of workers.
On Tuesday, Sanders said it's time to "give credit to who is owed."
Amazon is raising its minimum wage for all workers in the US UU At $ 15 per hour starting next month, and the salary will increase for employees who earn more than that.
Sanders congratulated Amazon CEO Jeff Bezos for doing "exactly the right thing".
He is also praising a vote on Tuesday by the Seattle company to become an advocate for raising the federal minimum wage, which now amounts to $ 7.25.
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10:20 a.m.
Amazon.com shares change shortly after the company said it is raising its minimum wage for all workers in the US. UU At $ 15 per hour starting next month.
Amazon has been among the best performers in the S & P 500 this year, with a gain of around 70 percent, compared to a 9 percent gain for the S & P.
The company is the second most valuable in the index after Apple Inc., and its market value briefly reached $ 1 trillion on September 4.
Starting at 10:00 a.m. On Tuesday, Amazon shares fell $ 7.08, or 0.4 percent, to $ 1,997.28.
Amazon's decision to increase salaries occurs when corporate profits are booming in the US. UU Amazon won $ 2.553 billion in the second quarter.
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7:55 a.m.
Amazon says its public policy team will begin to push for an increase in the US federal minimum wage. UU From $ 7.25 per hour.
Jay Carney, senior vice president of global corporate affairs, says Amazon will advocate for an increase in the minimum wage that will have a profound impact on the lives of tens of millions of people and families across the country.
Amazon is also increasing wages in some areas outside the US UU The company announced that the minimum wage will be 10.50 pounds per hour in London and 9.50 pounds in other parts of the United Kingdom. The increases will include 17,000 Amazon employees as well as 20,000 seasonal workers.
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7:10 a.m.
Amazon is raising its minimum wage for all workers in the US UU At $ 15 per hour starting next month.
The company said on Tuesday that the salary increase will benefit more than 350,000 workers, including full-time, part-time, seasonal and seasonal positions. Includes Whole Foods employees. Amazon's hourly operations and customer service employees, some of whom already make $ 15 per hour, will also experience a pay increase, the Seattle-based company said.
Amazon has more than 575,000 employees worldwide.
Paying for workers at Amazon may vary by location. His starting salary is $ 10 per hour in a warehouse in Austin, Texas, and $ 13.50 per hour in Robbinsville, New Jersey. The average salary for an Amazon employee last year was $ 28,446, according to government filings, which includes full-time, part-time and temporary workers.
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