President Trump’s chief economic adviser Larry Kudlow praised Amazon on Tuesday for raising its minimum wage to $15 per hour for all employees in the U.S., effective on Nov. 1.
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“Good for them,” Kudlow told reporters outside of the White House. “I’m in favor of higher wages.”
Higher wages, Kudlow said, are just another example of a flourishing economy that he often credits to the Trump administration’s business-friendly policies.
A reported published in early September by The Washington Post, for instance, revealed that blue-collar jobs are growing at the fastest rate in more than 30 years, with jobs in industries like mining, construction and manufacturing growing 3.3 percent in the year before July -- the best rate since 1984.
“By the way, more people working and prospering -- you’ve heard me say this before -- is not inflationary,” he said. “It’s a good thing, not a bad thing. It’s just what’s happening in the economy.”
The e-commerce behemoth said the wage hike will benefit more than 250,000 of its employees, in addition to 100,000 seasonal employees. Its current rate, which was set more than a decade ago, is $7.25 per hour. Amazon, and CEO Jeff Bezos, have come under fire in recent years for allegedly mistreating employees.
Amazon shares remained fairly steady on Tuesday after the announcement.