Wage inflation continues to climb and leading the pack are deep pocket companies. Verizon announced they will now start pay at $20/hour for certain positions.
In recognition of the hard work and dedication of its V Teamers, Verizon is raising the minimum wage for new employees to $20 an hour for Customer Service and $20 an hour (when base salary plus target commission are combined) for its Retail and Inside Sales employees. Existing employees on any of these teams who currently receive less than $20 an hour will be raised to this new rate automatically. And it’s adding premium pay differentials for assistant managers who work on holidays, Sundays and for those who are bilingual.
Verizon
Whenever a large corporation makes an announcement like this, others are soon to follow. As we wrote about a while back in “What’s Happening With Hourly Wages? T-Rex Will Eat First” we described how large corporations will vacuum up all the best labor first and leave the scraps to medium and smaller sized businesses and so the process continues.
It doesn’t stop there though. CNBC is reporting that Apple employees in New York want to unionize and the demand will be $30/hour.
Workers who hope to organize a union at Apple’s Grand Central Terminal store want workers to be paid a minimum of $30 per hour, according to a website for the group, Fruit Stand Workers United, that was updated on Monday.
CNBC.com
Inflation is here to stay for a while and a prudent investor should plan accordingly. Stay tuned and stay solvent…