TM Marlowe Group Comments on Higher Paychecks for US Workers

Tokyo, Japan, September 15, 2021 --(PR.com)-- Economists at Japan-based investment house, TM Marlowe Group say the “fight for $15” movement has been urging governments and companies alike to increase the pay grade of low-income workers for almost ten years.

A recent report by the Washington Post revealed that for employees in certain industries in the US, average pay has grown to more than $15 per hour, a figure that low-income workers previously struggled to attain.

While the new $15 an hour average is not a legal requirement (the federal minimum wage remains at $7.25 an hour), and millions of workers are still paid less than the milestone number, the goals of the movement have been accomplished in the eyes of many employees. As of now, workers mostly have the upper hand.

Economists at TM Marlowe Group agree that, although the $15 median should not be conflated with a new minimum wage, the rise in average pay for low-income workers raises the bar for those seeking employment and weighing up their options.

Recruiting firms have reported that many people seeking employment are only applying for jobs that pay at least $15 per hour. Currently, 80% of workers in the country earn a minimum of $15 an hour – a 20% increase since 2014. While pay raises match growing inflation, average pay tends not to drop after a surge, and average pay will likely prevail whether or not prices lower later on.

Mr. Yuto Hayashi, Chief Finance Officer at TM Marlowe Group agrees that pandemic-inspired career shifts have had a significant influence on the pay raise.

"After employees were retrenched and received unemployment funding, many found themselves with time and money to hone in on other career efforts and reconsider their previous jobs. Subsequently, businesses have been forced to lure workers back with higher paychecks," said Mr. Hayashi.