Wednesday, August 17, 2005
I'll Be Home By 9:00 - I Promise!
So, This Is What The Gold Rush Is Reduced To?
I’m sure there are more nuanced economic readings of this story, but when 11, 000 people apply for 400 jobs at Wal-Mart, it’s probably not a great sign for the economy.
Relevant quote: "It's not about Wal-Mart -- it's about the rest of the labor market," Levy said. "If the rest of the labor market was strong, you wouldn't have 11, 000 people applying for 400 jobs."
Wal-Mart is the outfit that, perhaps more than any other American corporation at the moment, is condemned for providing low wages and meager benefits. Yet, people are beating down the doors like they’re giving away free Cabbage Patch Kids.
To be fair, a $10.82 average wage – “average” not always being the best measure in these kind of studies - is not too shabby for retail. That works out to $1,731.2 a month which should, you know, allow you to rent an apartment, pay a car note and maybe keep the light on in Alameda County. What you were hoping for more?