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Thu Dec 3, 2020, 02:40 PM

How the biggest retail companies are compensating essential workers during the COVID-19 pandemic

Brookings Institution

As the number of new COVID-19 infections smashes daily records, the pandemic has entered its deadliest phase yet. With a dark winter looming, millions of frontline essential retail workers face grave risks to their health, often for very low wages and without the hazard pay they were earning at the start of the pandemic. Meanwhile, the biggest retail companies in the country continue to earn eye-popping profits.

In this report, we examine this inequality from two perspectives. As frontline retail workers at top companies face unprecedented risks on the job, what compensation should they earn, and what have they earned so far during the pandemic? And as those large retail companies earn unprecedented profits, how have they balanced investing in their workers and their profits?

We find that while top retail companies’ profits have soared during the pandemic, pay for their frontline workers—in most cases—has not. In total, the top retail companies in our analysis earned on average an extra $16.9 billion in profit this year compared to last—a stunning 39% increase—while stock prices are up an average of 33%. And with few exceptions, frontline retail workers have seen little of this windfall. The 13 companies we studied raised pay for their frontline workers by an average of just $1.11 per hour since the pandemic began—a 10% increase on top of wages that are often too low to meet a family’s basic needs. On average, it has been 133 days since the retail workers in our analysis last received any hazard pay.

At most of the biggest retail companies in America, the gap between the struggles and sacrifices of low-wage frontline workers and the wealth they create for their employers and shareholders is wider than ever.


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Reply How the biggest retail companies are compensating essential workers during the COVID-19 pandemic (Original post)
brooklynite Dec 2020 OP
DangerousRhythm Dec 2020 #1
radius777 Dec 2020 #2
crickets Dec 2020 #3
Hermit-The-Prog Dec 2020 #4

Response to brooklynite (Original post)

Thu Dec 3, 2020, 02:58 PM

1. I'll be getting $150 from the biggest one.

I’ve been working in the public throughout this horror, among idiots who either don’t know how to wear a mask, or purposely do not or those who think dicknosing is cool. People who have yelled at me that they don’t wear muzzles and started at me without masks on trying to get in past me.

Thanks, I guess.

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Response to brooklynite (Original post)

Thu Dec 3, 2020, 03:10 PM

2. K shaped recovery, the rich get richer while the rest get poorer,

also why 'the stock market' and 'the economy' are not the same thing. The market has been booming while people are on food lines.

Trump and the RW ignored the virus and forced people into the pandemic to die for the 1 percent, history will show.

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Response to brooklynite (Original post)

Thu Dec 3, 2020, 05:18 PM

3. K&R for visibility.

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Response to brooklynite (Original post)

Thu Dec 3, 2020, 06:05 PM

4. It's the GOPer dream -- disposable worker drones providing the filthy rich with more riches.

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