Following in the footsteps of Wal-Mart, Apple, BofA
Yesterday, JP Morgan announced that they would invest in a plan of over $20 billion to help its employees, and support local jobs and economic growth in the US over the next five years.
They're the latest among major companies in the US who are boosting wages as a result of the tax bill that has come into place this year. Two weeks ago, Wal-Mart made their announcement here.
JP Morgan says wages will rise by 10% on average, ranging from between $15 to $18 per hour - for about 22,000 employees. They also mentioned that eligible employees will receive an annual award (bonus) of $750.
Now, where are those wage growth and inflation numbers at again?