Re: Wal-Mart and Wages?

From: Andy F (aft627_at_aol.com)
Date: 07/19/04 

Date: 19 Jul 2004 02:56:32 GMT

Bill M wrote:

>Many of Wal-Mart's employees make around $6-8.00 an hour.
>Also it is my understanding that many of the Wal-Mart employees do
>not have health insurance. It would be great if Wal-Mart could pay at
>least $10/hr. and give health benefits. But that would have the end
>effect of raising prices. So here is the question:
>
>How much would Wal-Mart's prices rise if they were to instituted a
>policy of paying $10.00/hr as the minimum wage and covered each
>employee with health insurance?
>
>If you know of a capable grad. student (or someone else) that might be
>interested in this question could you have them get in touch with me
>and we can discuss details.
>
>Many thanks in advance for any assistance
>

There are some figures on this website:

http://www.walmartswaronworkers.com/multimedia/reports/WalMartBasicFactsSh
eet10-03.pdf

Wal-Mart's annual sales (2002) were $245 billion.The total workforce is about
1.6 million.
Assuming the average employee works 30 hours/week, a $2/hour raise would cost
$60/week or $3000/year.So to give the whole workforce a $2 raise would cost
3000*1.6m = 4.8 billion - equivalent to a price rise of about 2 %.
That's a very rough estimate.
  

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