Walmart CEO Supports Higher Minimum Wage

During Walmart's (Bentonville, Arkansas) annual shareholder meeting on Wednesday, CEO Doug McMillon called on Congress to raise the federal minimum wage, Retail Dive reported on Friday.

“$7.25 is too low,” McMillon said. “It's time for Congress to put a thoughtful plan in place to increase the minimum wage.” Walmart's minimum hourly wage for employees is $11 an hour.

McMillon also said a national increase in the minimum wage should take into account the cost of living and follow a phased approach.