Retailers Consider Benefits Of Raising Minimum Wage

Large U.S. retailers are weighing the benefits of an increased federal minimum wage. The Gap has already said it plans to boost its hourly minimum wage to $10 by next year. Meanwhile Walmart, the nation’s largest employer, said that while it remains neutral on the issue, it is exploring what benefits to the business might attach to an increase. The fact that Walmart is assessing the proposal is a plus for proponents. Democrats had the mega-retailer’s support when in 2007  it pushed through the last wage adjustment, to $7.25 per hour. The Congressional Budget Office estimated half a million jobs could be lost if the $10.10 proposal is successful, but overall real income would increase by about $2 billion.