Friday Business Report: Amazon Raises Minimum Wage To $15 An Hour
Friday, October 5, 2018
Photo by Reed Saxon AP
KPBS anchor Ebone Monet and BottomLine Marketing co-founder Miro Copic discuss some of the week’s top business stories.
This week’s topics:
Amazon Raises Wages
The company owned by the world's richest man, Jeff Bezos, announced this week, that it is increasing the minimum wage for its workers. Starting immediately, Amazon will pay all workers at least $15 an hour. That's four dollars more than California's current minimum wage, which is set to increase to $15 by 2022. And it's about double the federal minimum wage.
German grocer ALDI is known for low prices and no frills. But the discount retailer is hoping to tap into the millennial market by getting into the delivery business. The service is now available in San Diego, which has five ALDI stores, with more on the way.
A new trade agreement has been reached between the U.S., Mexico and Canada (USMCA) which replaces the old agreement (NAFTA). There are, of course, winners and losers. And sometimes both. For example, auto workers will make more money. But if they want to buy a car, that will cost them more.
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