McDonald’s, Bank of America Accelerate Higher Min. Wage Push

The transcript discusses how the pandemic has led to a labor shortage, prompting companies to offer higher wages, bonuses, and hybrid work opportunities. Essential workers demand respect and fair pay, fueling a movement for a $15 minimum wage. Companies like McDonald's and Target are increasing wages, which may lead to inflation concerns. Despite these concerns, businesses feel pressured to meet new wage benchmarks.

What are companies offering to attract workers during the pandemic?

• Higher wages and hybrid work opportunities

• Lower wages and fewer benefits

• Free meals and transportation

• More vacation days and remote work

Why are essential workers demanding more than just a thank you?

• They desire more job security

• They want to work fewer hours

• They seek respect, protection, and better pay

• They want more vacation time

Which companies have announced wage increases to $15 an hour?

• Starbucks and Dunkin'

• McDonald's and Chipotle

• Walmart and Amazon

• Burger King and Subway

What is the perceived benefit for companies that increase wages?

• They face higher operational costs

• They experience better financial performance

• They have to hire fewer employees

• They lose competitive advantage

How are companies responding to inflation concerns while setting wages?

• By increasing prices significantly

• By monitoring inflation and maintaining competitive pay

• By freezing wages

• By reducing employee benefits