Apple increases wage budget for employees amid tight labor market

Apple raises wages for workers amid rising inflation, a tight labor market and union movements among hourly store workers.

The iPhone maker told employees in an email on Wednesday that the company is increasing its overall compensation budget. Starting wages for hourly employees in the US will rise to $22 per hour, or higher based on the market, up 45% from 2018. Starting salaries in the US are expected to rise.

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