Wharton Business Daily
Amazon Raises Minimum Wage for Employees to $15 USD
Amazon just announced they would raise the minimum wage for their employees to $15 an hour, after public criticism of the richest man in modern history employing workers earning an average of $28,000 a year. This increase more than doubles the national hourly wage at $7.25, which many people question if it even qualifies as working wage today, and affects about $350,000 people a year, including about a third of which are seasonal employees. Host Dan Loney talks with Marshall Meyer, Emeritus Professor of Management at the Wharton School, Matthew Bidwell, Associate Professor of Management at the Wharton School, and Matthew Johnson, Research Scientist at the Sanford School of Public Policy at Duke University, to look at how higher wages may attract and retain workers in a service economy on Knowledge@Wharton.