Walmart Raises Minimum Wage as Retail Labor Market Remains Tight

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The nation's largest private employer is raising its minimum wage to $14 an hour for store employees.

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Retail, compared with other industries, tends to have higher churn than other industries — which allows employers to manage their head count by slowing the backfilling of jobs, said Gregory Daco, chief economist at EY Parthenon, the global strategy consulting arm of Ernst & Young. “Any retailer is going to have to think carefully and think twice about laying off a good share of their workforce,” he said.

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CNBC That's great for all five people who work in each store.

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