How can investors, money managers, investment bankers, etc believe what financial news network CNBC reports? CNBC reporter Lorie Konish made false statements in a 01-01-23 report titled "These states are raising their minimum wages in 2023. Chart shows where workers can expect higher pay." In the report Konish falsely stated that Walmart pays $15 per hour to store employees.
I work for a Walmart store, paid only $13 an hour, but hours are frequently cut so the effective rate is only $11-$12.25 per hour. Only 30% of Walmart associates nationwide get paid $16 an hour or more. When Walmart corporate announced pay raises for hourly associates in 2021 they admitted that only 40% of store associates nationwide would get a raise. Many stores in rural areas and smaller states population wise still only pay $11 an hour.
CNBC reporters like David Faber, Aaron Ross Sorkin, others will frequently state that Walmart's average hourly pay is $16 an hour. All they're doing is repeating PR from Walmart's corporate headquarters. CNBC needs to start asking critical questions to Walmart's leadership.
Submitted January 02, 2023 at 02:32AM by rw4455 https://ift.tt/orPZ4zG
