Bank of America hikes its minimum wage to $22 per hour
CBSN
Bank of America is giving its lowest-paid employees a bump in wages to $22 an hour, equivalent to nearly $46,000 a year for full-time workers.
The Charlotte, North Carolina-based company's pay increase bolsters the earnings of a large portion of its 174,000 U.S. employees, and follows wage hikes that started with the bank increasing its hourly base to $15 in 2017, $17 in 2019 and then $21 in 2021. BofA previously announced that it plans to gradually raise its base pay to $25 per hour by 2025.
In 2020 (the latest year for which data is available), the median earnings of all U.S. workers 15 and older was $41,535, according to the Census Bureau. For full-time workers, median pay came to $61,417 for men and $50,982 for women, according to the agency, which pegged the poverty threshold for one person in 2020 at $13,171.
Washington — The Supreme Court is set to consider Thursday whether former President Donald Trump is entitled to sweeping immunity from federal prosecution for conduct that occurred while he was in the White House, thrusting the justices into election-year politics in a historic case with significant ramifications for his legal and political future.
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