Walt Disney World workers could see higher minimum wage

Walt Disney World staff expects the minimum wage to rise to $ 15 in the coming years and is waiting for new contract approval over the weekend.

The union representing 38,000 workers working at Walt Disney World, Florida has reached an agreement with the company after nearly a year's negotiations. The contract will be voted by the union members early next month, but it will be approved.

By year's end, the new agreement will raise the minimum wage to $ 11. The annual starting salary increases by 1 dollar each year until 2021 and the expected interest rate remains at $ 15.

Union representatives said the rise in wages would boost regional economies by increasing consumer spending. Also, as competitors are trying to maintain competitiveness, it also states that this decision may affect payment decisions at nearby parks such as Universal Studios.

Given criticism, Amazon is not the only company to raise salary. Earlier this year, the Walt Disney Company agreed to raise the wage of Walt Disney World workers to $ 15 per hour. Wal-Mart will raise the minimum wage to 11 dollars per hour this year, Target will raise the base salary to 12 dollars per hour and raise it to $ 15 by 2020.

Walt Disney Company was recently convicted of breaching the wage law because it violated the uniformity of hourly wage of some employees or the cost of "clothes". The company is currently planning to pay a $ 3.8 million salary to 16,339 employees of Disney Vacation Club Management and Walt Disney Parks and Resorts. By deducting clothes from salaries of some employees, these employees are ultimately below the federal minimum wage of $ 7.25 per hour. Wow. As Disney's wealth heir, Abigail Disney strongly opposed the Republican tax payment bill, saying it is a wealthy benefit for large companies and hurts average American work. A trillion dollar deficit hurts the economy of our country. Watch the video

The true minimum wage is always zero. Companies can always choose not to hire employees. If the minimum wage is low, wages will only rise and workers can only get wages without them. However, as workers' employment costs rise, the number of workers employed by the company will decrease. Some workers receive a raise and the other workers are unemployed. Individual surveys gave different estimates, but the typical outcome of the survey suggests that a 10% increase in minimum wage will reduce the employment rate of affected workers by about 2%. The effect of the minimum wage on low-income workers was investigated and it turned out that the labor cost of low-income workers decreased by 1.7% from 1.2% at every 10% increase. Another survey shows that raising the minimum wage by 10% will result in a 2.7% reduction in the number of young people employed in the long run. These estimates indicate that a 40% increase in the proposed minimum wage will result in an expected beneficiary working cost of at least 8%.