Unemployment, Amazon wages

[Fake Messiah]

It seems Amazon raised wages because of Bernie Sanders or more closely Stop Bezos Act, a bill targeting major corporations like Amazon whose workers receive government aid.
https://www.thisisinsider.com/bernie-san...in-2018-10

But it's not that great

Amazon's company-wide minimum-wage hike to $15 won't cost the company more; rather, the e-commerce giant will hire fewer people, David Bahnsen says.
Once Amazon addresses the "hurdle" of actually hiring as many staffers as it needs, the company will spend less on wages, because it is moving toward automation, Bahnsen says.
The hike looks good politically, but Amazon shouldn't get too comfortable, he adds.
An Amazon warehouse worker told The Verge via email that the news was devastating to fulfillment employees, many of whom depend on their RSU and VCP (variable compensation pay, a performance-based monthly bonus program) incentives on top of their hourly wages. VCP incentives, which are dependent on good attendance and hitting productivity targets, could get Amazon workers an 8 percent monthly bonus, and a 16 percent bonus during the peak November and December seasons.
https://www.theverge.com/2018/10/3/17934...-warehouse

And also

The bottom 90 percent are still poorer than they were in 2007

Elites might be in a self-congratulatory mood because they feel like they saved the system, but that’s really only true for themselves. Everyone else is still struggling just to get back to where they were before 2008, and they aren’t particularly close. Not that the government is doing much to help. To take one rather pertinent example, President Trump’s Treasury Department pulled the plug on the “myRA” plans that had begun under Obama — offering low-risk savings plans to people who couldn’t get them at work — because spending 0.0003 percent of the government’s budget on trying to do something about the savings inequality that’s leaving people further and further behind each year was apparently too much. Giving corporations, who already had record-high profits as a share of the economy, the bulk of the GOP’s $1.5 trillion in tax cuts was more important.

But don’t worry, I’m sure the recovery will trickle down.
https://www.washingtonpost.com/business/...f169865025