McDonalds CEO: Higher Min. Wage Strategy to ‘Retain Our Talent’

McDonald’s Joins Trend in Raising Pay (The Wall Street Journal)

McDonald’s Corp. plans to raise wages by more than 10% for workers at U.S. restaurants it operates—fresh evidence of the rising wage pressure in the American labor market.

Starting July 1, McDonald’s will pay at least $1 an hour more than the local minimum wage for employees at the roughly 1,500 restaurants it owns in the U.S.

The move follows similar efforts by other major U.S. employers including Wal-Mart Stores Inc., which is raising hourly pay for 500,000 workers to at least $10 next year, and reflects wider public pressures over income inequality as well as intensifying competition for low-skilled workers.