Huffingtonpost: Less than a week after Costco CEO Craig Jelinek spoke out in favor of raising the minimum wage, the big-box retailer’s earnings showed that paying workers a living wage doesn’t always hurt business.
Costco reported a profit of $537 million last quarter, up from $394 million during the same period last year, according to the Wall Street Journal. The healthy earnings report comes just six days after Jelinik urged lawmakers to raise the minimum wage to $10.10 an hour.
We here at GT know people who work at Costco. By all accounts it's a pretty good place to work. One reason is they pay significantly better than their competitors. They employ a lot of people, most of whom live in the community. It's no surprise paying a living wage increases demand in the local economy. Henry Ford would have been proud.
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