20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
Starbucks Corp. (NASDAQ:SBUX) said Wednesday it would raise wages and ensure that its workers in the U.S. earn at least $15 an hour by summer next year.
What Happened: Starbucks said that workers who have worked at the coffee chain for at least two years could get up to a 5% raise in late January, while employees with experience of at least five years could receive a pay hike of up to 10%.
The Seattle-based coffee chain also said that average wage for all its U.S. hourly workers would range between $15 and $23 an hour from summer 2022, averaging nearly $17 an hour.
In addition, Starbucks said it has extended its $200 referral bonuses to help attract new talent.
See Also: Starbucks' Earnings: A Preview
Why It Matters: Starbucks' move to raise wages comes as restaurants in the U.S. struggle to attract and retain enough workers to serve customers as demand rebounds amid the economic reopening.
Fast-food giant McDonald’s Corp. (NYSE:MCD) and Mexican food chain Chipotle Mexican Grill Inc. (NYSE:CMG) announced wage hikes for their employees in May this year.
Starbucks last raised wages for its U.S. employees by 10% or more in December 2020.
Joseph Brusuelas, chief economist for RSM US LLP, said earlier this month that the era of surplus U.S. labor is drawing to a close and a $15 minimum wage is becoming the new standard in the post-pandemic economy.
Price Action: Starbucks closed 1.25 lower in Wednesday’s trading at $113.51.
Read Next: Walmart Is Offering $9.95 Back To New Subscribers Of Plus Service Today, In Apparent Dig At Amazon
20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
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