Got a raise? Thank the tightening labor market

Tracey Samuelson Jul 12, 2016
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JP Morgan Chase announced raises for its employees today.  Andrew Burton/Getty Images

Got a raise? Thank the tightening labor market

Tracey Samuelson Jul 12, 2016
JP Morgan Chase announced raises for its employees today.  Andrew Burton/Getty Images
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What if your boss called you up one day out of the blue and said, “How about a raise?” 18,000 employees at JPMorgan Chase opened the paper this morning and got just about the equivalent. In an Op-Ed in the New York Times, CEO Jamie Dimon said the bank will raise its minimum pay to between $12 and $16.50 an hour over the next three years. It’s just above $10 now. Over at Starbucks, baristas and store managers got a similar memo from their CEO Howard Schultz yesterday. Coincidence?

Click the player above to hear more about economic conditions and rising wages.

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