Re:Fewer than 40% of New Yorkers earn a living wage
by Aunche on Tuesday January 10, 2023 @11:39AM
(#34327491)
>Walmart earns $13k of profit across each of their 2m employees.
Your numbers are off. Walmart's pretax income was ~$19B, so that's ~$8k profit per employee.
>One could make the argument that if Walmart had to pay each employee an extra (say) $3k annually
If they were pressured to increase wages, they would adjust their business model to employ fewer, "more productive" employees (e.g. invest more in automation). The government would still have to subsidize the cost of living of those who would have otherwise been unemployed.
Your numbers are off. Walmart's pretax income was ~$19B, so that's ~$8k profit per employee.
>One could make the argument that if Walmart had to pay each employee an extra (say) $3k annually
If they were pressured to increase wages, they would adjust their business model to employ fewer, "more productive" employees (e.g. invest more in automation). The government would still have to subsidize the cost of living of those who would have otherwise been unemployed.