Opinion

Wall Street follows Main Street in giving low-wage workers a raise

July 13, 2016, Gary Burtless

Jamie Dimon, chief executive of JP Morgan Chase, this week announced a raise  for his bank’s lowest pay employees.  The company’s worst paid workers currently earn $10.15 an hour. By next February their pay will increase to at least $12 an hour, a jump of 18 percent.  Dimon’s announcement follows widely reported wage hikes at Starbucks, Target, Walmart and other employers with sizeable numbers of low-pay workers. 

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