By Thomas E. Perez, US Secretary of Labor
Huffington Post, Jan 30, 2014
It's time to give America a raise. ... Forward-looking companies get that this makes smart business sense. That's why the president and I visited a Costco store in Lanham, Md., the morning after his speech. Costco pays their workers good wages with benefits, while selling good products at competitive prices and remaining quite profitable. ...
But they're not the only company following this model. I just got back from a visit to the 5th Street Ace Hardware store in Washington, where all employees make more than the federal minimum wage, most earning $10 per hour or more.
A few weeks ago, I met with a restaurant owner from Brooklyn who told me that he's been able to retain his dishwashers for more than a year, thus reducing high training costs. That's a tall order for a position known for high turnover, but he did it by paying them $11 per hour. It stands to reason: Higher wages means higher loyalty and morale, which means higher productivity, which means a more profitable business. ...