Exercising monopoly powers over the economy

Submitted by Prometheus 6 on August 17, 2005 - 8:52am.
on Economics

Quote of note:

"It's not about Wal-Mart -- it's about the rest of the labor market," Levy said. "If the rest of the labor market was strong, you wouldn't have 11, 000 people applying for 400 jobs."

During the dot-com boom, Levy said, businesses like Starbucks bumped up wages to recruit employees in the middle of a hot job market. But now the situation has reversed, and more people are willing to take whatever they can get.

Want a Wal-Mart job? Join the crowd
11,000 apply for 400 openings at retailer's new Oakland store

- Pia Sarkar, Chronicle Staff Writer
Wednesday, August 17, 2005

For all the criticism that Wal-Mart receives for its low wages and minimal health benefits, the retail giant says more than 11,000 people in the Bay Area are clamoring to get a job at its new Oakland store.

The country's largest employer plans to welcome customers into its 148, 000-square-foot store on Edgewater Drive next Wednesday, and it says it already has filled 350 of its 400 openings.

Wal-Mart has accepted more than 11,000 applications from Bay Area job seekers, marking the largest volume of interest it has received at any of its Northern California stores, said Wal-Mart spokeswoman Cynthia Lin.

"I needed a job ASAP, and they had their doors open," said Virginia Ford, 19, of Oakland, who had applied for 25 jobs in three months before she landed one as a cashier at Wal-Mart in Oakland on Tuesday.