Wallmart says its to make its rates of pay more attractive.
- starting wage is now US$14 an hour from $12
- average wage will be over US$17.50 an hour
- new average is up around 2.9%
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The Federal Reserve is keen to avoid a wage-price spiral for inflation. At the margin wage hikes make further Federal Reserve rate hikes more likely.
Still, some good news for now for workers. Inflation will eat it away soon enough ... well, it already has.
