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WASHINGTON, February 19, 2015 - The National Retail Federation issued the following statement today from President and CEO Matthew Shay on Walmart’s announcement that it will increase wages of approximately 500,000 full-time and part-time associates in April to $9.00 an hour. The following year, by February 1, 2016, current associates will earn at least $10.00 an hour, ensuring that hourly associates earn well-above the federal minimum wage.
“Today’s announcement by Walmart regarding associate wages is just another example of the power of the marketplace. Like many other retailers, Walmart made its decision based upon what is best for their employees, their customers, their shareholders and the communities in which they operate.
“Government mandates that arbitrarily require businesses to implement politically driven policy are unnecessary and, in fact, create hurdles to job creation, curtail capital investment and pose as barriers to a sustained economic recovery.”
NRF is the world’s largest retail trade association, representing discount and department stores, home goods and specialty stores, Main Street merchants, grocers, wholesalers, chain restaurants and Internet retailers from the United States and more than 45 countries. Retail is the nation’s largest private sector employer, supporting one in four U.S. jobs – 42 million working Americans. Contributing $2.6 trillion to annual GDP, retail is a daily barometer for the nation’s economy. NRF’s This is Retail campaign highlights the industry’s opportunities for life-long careers, how retailers strengthen communities, and the critical role that retail plays in driving innovation. NRF.com
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