The Wall Street Journal is reporting that Walmart intends to add 50,000 new workers by April. Most firms are already struggling to find workers and wages in most places across the country are now at $15/hour or higher.
In New York, Amazon workers are walking out for better wages and breaks. In Las Vegas, higher wages are the expectation and norm not the exception.
This all points to continued battle for labor in 2022 and possibly beyond. Our thesis remains the same, back in December we wrote, What’s Happening With Hourly Wages? T-Rex Will Eat First, where we made the case that deep pocket corporations will suck up most of the free labor available and then other smaller businesses will get the left overs and scavenge over scraps.
Things are unfolding as we predicted and it will only get worse.
Stay tuned and stay solvent…