Reports have surfaced the internet today that Walmart's Oakland branch is closing. The reason behind the closure is said to be because Oakland's local minimum wage is higher compared to the city's.
Tim Worstall, a contributor to Forbes, explains that it's not to examine whether the claim to blame the high cost of minimum wage is true, rather it's to examine if Walmart has done the reasonable thing in an economic and business standpoint.
It has been reported previously that Walmart stores are being closed nation-wide and abroad as well. Worstall explains that there is no connection to the local minimum wage if stores overseas are closing as well.
He describes the claim that the high cost of minimum wage as the reason for the closure as an interesting idea but that doesn't mean all the rest of the stores closing can have the same reason. …show more content…
He said the company cited the District's rising minimum wage, now at $11.50 an hour and possibly going to $15 an hour if a proposed ballot measure is successful in November. He also said a proposal for legislation requiring D.C. employers to pay into a fund for family and medical leave for employees, and another effort to require a minimum amount of hours for hourly workers were compounding costs and concerns for the
Tim Worstall, a contributor to Forbes, explains that it's not to examine whether the claim to blame the high cost of minimum wage is true, rather it's to examine if Walmart has done the reasonable thing in an economic and business standpoint.
It has been reported previously that Walmart stores are being closed nation-wide and abroad as well. Worstall explains that there is no connection to the local minimum wage if stores overseas are closing as well.
He describes the claim that the high cost of minimum wage as the reason for the closure as an interesting idea but that doesn't mean all the rest of the stores closing can have the same reason. …show more content…
He said the company cited the District's rising minimum wage, now at $11.50 an hour and possibly going to $15 an hour if a proposed ballot measure is successful in November. He also said a proposal for legislation requiring D.C. employers to pay into a fund for family and medical leave for employees, and another effort to require a minimum amount of hours for hourly workers were compounding costs and concerns for the