Apple is increasing US workers' salaries to combat rising inflation and unionization pushes.In a Wednesday email to employees, the company announced plans to increase its overall compensation budget, boosting starting pay to $22 an hour (or higher, based on the market)—a 45% increase from 2018, according to The Wall Street JournalThe Wall Street Journal."Supporting and retaining the best team members in the world enables us to deliver the best, most innovative, products and services for our customers," an Apple spokesperson said in a statement. Inflation reached 8.3% in April—the fastest rate in more than 40 years, CNBC reported. Add to that low unemployment, and tech workers are feeling emboldened to look for better paying, more flexible jobs elsewhere.In an effort to maintain its existing workforce, the company's expanded compensation budget will supplement (not replace) pay increases and special awards handed out over the past year. Some workers, including hourly employees in stores and AppleCare, are set to receive their annual review and pay rise this summer—three months ahead of the normal process, which usually coincides with the end of Apple's fiscal year in the fall.Apple employees are increasingly showing an interest in unionizing. Apple stores in Georgia, Maryland, and New York filed for the first three union elections in the company's history; victory for workers could lead to the country's first Apple retail union.
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Apple is increasing US workers' salaries to combat rising inflation and unionization pushes.In a Wednesday email to employees, the company announced plans to increase its overall compensation budget, boosting starting pay to $22 an hour (or higher, based on the market)—a 45% increase from 2018, according to The Wall Street JournalThe Wall Street Journal."Supporting and retaining the best team members in the world enables us to deliver the best, most innovative, products and services for our customers," an Apple spokesperson said in a statement. Inflation reached 8.3% in April—the fastest rate in more than 40 years, CNBC reported. Add to that low unemployment, and tech workers are feeling emboldened to look for better paying, more flexible jobs elsewhere.In an effort to maintain its existing workforce, the company's expanded compensation budget will supplement (not replace) pay increases and special awards handed out over the past year. Some workers, including hourly employees in stores and AppleCare, are set to receive their annual review and pay rise this summer—three months ahead of the normal process, which usually coincides with the end of Apple's fiscal year in the fall.Apple employees are increasingly showing an interest in unionizing. Apple stores in Georgia, Maryland, and New York filed for the first three union elections in the company's history; victory for workers could lead to the country's first Apple retail union.