By Katie Chapman kchapm11@uwyo.edu

As the new year kicks off, many businesses in Laramie look over their budgets and calculate their availability of wages. With projected incomes and fluctuations, many businesses turn to their employees and offer beneficial raises. One business in particular, Walmart, raised their wages at the start of the new fiscal year. Walmart has an estimated 300 employees. With the increase in wages, there will be an increase of roughly $3,600 paid each week or roughly $14,400 a month.

Walmart employees had a lot to say about the raise. “This raise will help to provide money to buy gas. With the increase of gas prices, it’s been hard to keep up with my gas budget,” said one of the employees. “With my raise, I plan to add the extra money to my 401K and help provide for my future. Walmart has good benefits that help us grow our future now and this raise will help me do so,” said another employee. A third employee added, “The raise will help put money into my investment fund set up to provide for my children’s future. In 50+ years I hope the money has grown enough to put them through college.”

Adding almost $15,000 into the economy every month can help build up the community in so many ways. Not only does raising wages improve worker productivity within a business, but it reduces employee turnover rates. This helps to better the rate of unemployment within our community. Raising wages can also help to stimulate spending within the community which would help build up local businesses’ bottom line and grow the economy. This would happen through a process of more money being put into the cash flow cycle in Laramie. In addition, raising wages can improve the overall standard of living.

Photos by Katie Chapman