What Apocalypse? Retail Worker Pay Hits 15-Year High
U.S. paychecks surge as Walmart, Target and blue states implement minimum wage hikes.
An employee moves a TCL Corp. television in shopping cart at a Walmart location in Burbank, California, U.S.
Photographer: Patrick T. Fallon/BloombergDespite an industry shakeout that’s been dubbed the retail apocalypse, store workers who have hung in there are seeing better pay than a generation ago, even with inflation.
Minimum wage increases by states and across major chains, like Walmart Inc. and Target Corp., coupled with a tight labor market, have jump-started the income gains. Average hourly earnings for 13.4 million non-supervisory retail workers surged 5.1% last year for the biggest advance since 1981, according to the U.S. Bureau of Labor Statistics. And they’ve kept rising, hitting $16.65 an hour in July. When adjusted for inflation, that’s the highest level since December 2003.