Wal-Mart woes revive minimum wage debate

AFP reports:

Wal-Mart caused a stir when it raised the pay of 500,000 of its workers. But now the US retail giant seems to regret the move after its profit outlook plunged, reviving a minimum wage debate.


The nation's biggest employer blames its recently released lower forecast on a plan it unveiled in February to hike minimum hourly compensation to $10, up from $7.25 at the federal level.

Wal-Mart's move followed mounting criticism by labor unions and others that its low wages have locked workers into poverty and even pressured some of them to seek public assistance to make ends meet.

The demand for labor always is a downward sloping curve not matter what regressives tell you.