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This sounds like great news for low-wage workers, but the article seems to punt on the Why. Since so many people have been under-employed the last 8 years, I wo
by pjungwir 12y ago
This sounds like great news for low-wage workers, but the article seems to punt on the Why. Since so many people have been under-employed the last 8 years, I wonder if the increased turnover is due to over-qualified employees who were just working a Walmart gig until they could find something better, e.g. college graduates or folks laid off from a higher-paying job. I wouldn't be surprised if this were a large part of the effect, and in that case I'd figure that:
- raising wages would not help retain these people.
- the increased turnover will subside as the underemployment problem fixes itself.
I'm curious what other folks think about that theory?
- Guvante 12y agoI would naively assume that the market forces of high unemployment would be more powerful than over-qualified employees would account for unless they sought them specifically. Given all the mechanisms they already have in place to control the impact of turn-over it doesn't surprise me that they realized it would be cheaper just to pay people a little more.