Big Companies Raising Wages Could Boost Pay for Others
Kena Betancur/VIEWpress/Getty Images A working paper, as first reported by The New York Times, looks at minimum wage raises at major retailers. The authors find "substantial spillovers" from the companies' voluntary minimum wage increases. This includes other firms increasing their wages to the amounts announced at these large companies. In recent years, big companies like Amazon have publicly increased the minimum wage they pay workers. And it turns out those moves can lead to nearby businesses also bumping up their pay, according to a recent working paper. "I...