Walmart announced on Tuesday (January 24) that it will raise the starting and minimum wage for all store employees to $14 an hour starting next month. Walmart spokesman Jimmy Carter said the minimum hourly wage varies between $14 and $19 depending on location.
The minimum wage in Arkansas is $12 an hour. In Arkansas, full-time workers earning $12 an hour (35 hours a week) will get a $70 increase in weekly gross pay. On an annual basis, that’s $3,640 and her $25,480 gross annual income, which is still below her $29,210 per capita income in Arkansas as reported by the U.S. Census Bureau in 2022. I’m here.
Walmart USA CEO John Farner said the average wage for store employees is $17.50 an hour and the increase will be reflected in salaries on March 2. Walmart said about 340,000 workers would benefit from the wage hike. This represents his 21% of the retailer’s 1.6 million workers.
Walmart has also been vocal about the lack of importance of starting salaries and minimum wages, preferring to focus on average wages given what retailers believe to be an aggressive promotional strategy. The Bentonville-based retailer is also offering education benefits by reimbursing 100% of tuition fees to selected institutions through its Live Better U program.
“Today, we are excited to share the latest steps in building jobs at Walmart,” Farner said in a note to workers.
Aside from raising the minimum wage, retailers have created well-paid jobs for skilled workers in auto repair centers, he said. Farner said a new expansion plan to recruit truck drivers from the store’s employee pool could increase their earnings potential by as much as $110,000 a year by becoming licensed commercial drivers. Now he’s one way.
Farner said Walmart employees have career advancement opportunities wherever they start their careers. He started his career at his 100th Walmart in Bentonville while attending college at the University of Arkansas.
Walmart’s wage investment comes as retailers say employee challenges will remain one of the biggest challenges in 2023. Walmart’s starting salary remains lower than competitor targets, where he led the industry with a 15-hour minimum store wage in 2017. Wages ranged from $15 to $24 an hour, depending on job and location, reflecting a $300 million increase in labor costs.
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