Operators in the fast-food sector will need to adapt to tighter operating margins to accommodate new labor cost levels. … READ MORE >
minimum wage
How $15 an hour became the de-facto minimum wage
A new de-facto entry-level wage of $15 per hour is becoming the national standard in the private sector. The shock to the economy unleashed by the pandemic and the response by workers have radically transformed the wage-earning landscape. … READ MORE >
Chart of the Day: A stagnant minimum wage for society’s essential working people
Although some cities and states have imposed higher minimum wages, the federal minimum wage has not kept up with the times. Fifty years ago, people working at the minimum wage were receiving a salary that was 50% of average hourly earnings. Today, the $7.25 per hour minimum wage is 29% of the $25 average hourly earnings of hourly workers. … READ MORE >