For years, labor was a far from pressing concern for retailers and brands. Wages were low, skilled workers were plentiful.
No longer. Now, retailers and brands are being hit with a triple whammy of rising wages, increasing volume of work and decreasing labor availability—all of which are eating into the bottom line.
In 2014, average hourly labor rates increased $0.64 compared to a total of $0.30 during the previous 11 years. Then, in 2015, minimum wages across the country increased an average of $0.67 an hour, as 17 states increased their minimum wages, according to CBRE. And 11 states have increases slated for 2017.
Source : Kurt Salmon