Whitey Ford
09-16-2023, 05:28 AM
Let's go Brandon.
Walmart is cutting wages for new employees stocking shelves and packing online orders.
This is a surprising turn of events given what appears to be a tight labor market. The ratio of job vacancies to unemployed people remains at an extremely high 1.5 to one. The unemployment rate is 3.8 percent nationwide, with the median among states as low as three percent. Consumer spending rose in July an astonishing 0.8 percent. Retail sales at general merchandise stores, the category that includes Walmart, rose by the same 0.8 percent.
How is Walmart able to reduce wages in an environment of low unemployment and rising demand?
It’s very likely that a hidden-in-plain sight program of Bidenonomics is putting downward pressure on wages: uncontrolled migration.
A new report from Fitch Ratings details that higher levels of migration into the U.S. in 2022 and 2023 has increased the labor supply, driven up labor force participation, eased labor shortages that were pushing wages higher, and allowed companies like Walmart to keep growing payrolls.
https://www.breitbart.com/economy/2023/09/08/breitbart-business-digest-bidenomics-is-pushing-down-wages-by-flooding-the-country-with-migrants/
Walmart is cutting wages for new employees stocking shelves and packing online orders.
This is a surprising turn of events given what appears to be a tight labor market. The ratio of job vacancies to unemployed people remains at an extremely high 1.5 to one. The unemployment rate is 3.8 percent nationwide, with the median among states as low as three percent. Consumer spending rose in July an astonishing 0.8 percent. Retail sales at general merchandise stores, the category that includes Walmart, rose by the same 0.8 percent.
How is Walmart able to reduce wages in an environment of low unemployment and rising demand?
It’s very likely that a hidden-in-plain sight program of Bidenonomics is putting downward pressure on wages: uncontrolled migration.
A new report from Fitch Ratings details that higher levels of migration into the U.S. in 2022 and 2023 has increased the labor supply, driven up labor force participation, eased labor shortages that were pushing wages higher, and allowed companies like Walmart to keep growing payrolls.
https://www.breitbart.com/economy/2023/09/08/breitbart-business-digest-bidenomics-is-pushing-down-wages-by-flooding-the-country-with-migrants/