Workers’ wages are rising at the fastest pace in years. Companies’ profits could take a hit
CNBC
3 hrs ago
Patti Domm
The pandemic changed work life and as the economy reopens, it's changing it again, with companies offering higher wages as they grapple with a labor shortage.
It's been at least 25 years since U.S. businesses were willing to increase worker pay. While this won't affect the bottom line right away, it could start to squeeze profits down the road.
Under Armour announced this week that it was boosting its minimum wage, following other companies, like McDonald's, Chipotle, and Bank of America