Walmart Changed its Starting Wage Policy. Labor Markets Are Loosening.

Walmart is lowering starting wages for some entry-level jobs
This is a sign the labor market is cooling down, analysts say
Walmart previously raised wages to attract workers during pandemic
Wage cuts indicate companies have more hiring flexibility now
Could signal broader trend of loosening labor market conditions

barrons.com

Relevant topic timeline:

8/23/2023

Wages for New Hires are Falling, But the Impact is Negligible – MishTalk

New hires are experiencing declining wages in various sectors such as technology and transportation, which could impact job hopping and take time to reflect in federal data, posing challenges for the Federal Reserve in managing inflation.

8/29/2023

Walmart cuts pharmacist pay, hours while workload piles up

Walmart is asking its pharmacists to take voluntary pay cuts and reduce working hours, in an effort to cut costs and address the drag on profits caused by high-priced weight-loss drugs and an opioid-related legal settlement.

8/29/2023

Key US jobs data boost Fed's 'soft-landing' hopes

The US jobs data for July suggests a cooling employment market, with a drop in labor demand and easing of hiring conditions, which could help lower inflation without a significant rise in unemployment rates.

9/7/2023

Walmart changes starting pay structure for entry-level store workers

Walmart is changing its hourly starting wage structure for entry-level store workers in order to reduce costs in a slowing job market, with all store workers now receiving the same hourly starting wages instead of different levels.

9/29/2023

Walmart Drops College Degree Requirement for Some Corporate Jobs, Will Prioritize Skills Over Degrees

Walmart is removing the requirement of a college degree for some white-collar positions at its headquarters, focusing on skills and experience instead.

10/1/2023

Walmart Overhauls Job Titles and Pay for Corporate Staff

Walmart is implementing changes to job titles and pay structure for its corporate staff, with some employees receiving new titles and updated compensation plans, although their roles and base pay will remain the same.

Topics

Posted 9/7/2023, 8:18:00 PM

Walmart Changed its Starting Wage Policy. Labor Markets Are Loosening.

Walmart is lowering starting wages for some entry-level jobs
This is a sign the labor market is cooling down, analysts say
Walmart previously raised wages to attract workers during pandemic
Wage cuts indicate companies have more hiring flexibility now
Could signal broader trend of loosening labor market conditions

barrons.com

Relevant topic timeline:

8/23/2023

Wages for New Hires are Falling, But the Impact is Negligible – MishTalk

8/29/2023

Walmart cuts pharmacist pay, hours while workload piles up

8/29/2023

Key US jobs data boost Fed's 'soft-landing' hopes

9/7/2023

Walmart changes starting pay structure for entry-level store workers

9/29/2023

Walmart Drops College Degree Requirement for Some Corporate Jobs, Will Prioritize Skills Over Degrees

Walmart is removing the requirement of a college degree for some white-collar positions at its headquarters, focusing on skills and experience instead.

10/1/2023

Walmart Overhauls Job Titles and Pay for Corporate Staff