You might assume that everyone on Wall Street makes millions. But the lowest wages are actually at poverty level. In fact, the lowest-paid employees of JP Morgan Chase have been making just $10.15 an hour, according to Brookings.
A recently announced increase to “at least $12 an hour” is good news not only for them, but for everyone, according to Brookings. “The drop in the unemployment rate below 5 percent has made it harder for employers to fill job vacancies, putting pressure on them to boost pay, both to attract new workers and to retain the ones already on their payrolls.”
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