Press Release: Foster Tours IKEA, Urges Action to Raise Minimum Wage
Bolingbrook, IL – Today, Congressman Bill Foster (IL-11) toured the IKEA store in Bolingbrook, Illinois. IKEA, the popular furniture company, pays its employees well above the federal minimum wage.
Over the last few years, IKEA has consistently increased its compensation to account for location and cost of living in its pay structure. This strategy has cut down on employee turnover and attracted more qualified candidates for job openings.
“The minimum wage has been frozen for seven years,” Foster said. “Hard-working people with minimum wage jobs should not have to live in poverty or work multiple jobs to make ends meet. IKEA remains competitive and looks out for the interests of its employees by offering competitive wages. Government and business leaders should take note of IKEA’s success in employee retention and satisfaction.”
Currently, Congressman Foster is a co-sponsor of H.R. 2150, the Raise the Wage Act. The bill would gradually raise the minimum wage to $12 over the course of four years and index it to the median hourly wage of all employees after four years.
The federal minimum wage has not been raised in seven years. It was last raised to $7.25 on July 24, 2009.