On Wednesday thousands of Wal-Mart Stores, Inc. (NYSE:WMT) workers, fast food joint workers, health care providers, airline workers and adjunct professors pushed for a $15 an hour minimum wage in marches across the country.
The march is being held by the Service Employees International Union and will include marches on street and rallies. The news of a Seattle-based credit card company’s decision to increase the average pay of every worker to around $33.65 an hour was trending on Tuesday.
Dan Price, the founder of the said Seattle Company, based his decision on a study, which found that money does indeed increase happiness till a yearly income of $75,000.
It is debatable whether increased minimum wage leads to better life or not. However trade unions and business owners have threatened to cut hours if the minimum wage goes up. According to Michael Saltsman, research director at Employment Policies Institute, in Oakland, California the minimum wage was increased to $12.25 from $9.0, and the results were bad for both the workers and businesses.
Protestors across America came out to ask higher wages. Tampa Mayor Bob Buckom joined hundreds of protestors at Copeland Park and expressed his support for the $15 per hour minimum wage.
The Wednesday’s march comes in support of the low wage earners. Wage increases have been affected in many cities and states including Oakland and Seattle.
In a statement on April 1, McDonald‘s Corporation (NYSE:MCD) said that it would increase its minimum wage by $1 over the local minimum wage decided by law, however as more than 90% of McDonald’s are run by franchisees who decide their own wages. Other companies have also responded announcing increases.
Many workers at McDonald’s and Hunkin Donuts left their work on Wednesday to go on strike for the first time. There is a chance that the rally on Wednesday may lead to unions.