Walmart sees upward diversity trends with +7.42% management promotions for people of color
According to the Labor Force Statistics of the U.S. Bureau of Labor Statistics out of the total American workforce, a predominant 78% is white, with African American, Asian, and Hispanic populations representing only 12.1%, 6.4%, and 17.6% respectively for the year 20201. It is observed that employees of color, especially African Americans are facing obstacles to advance in their careers compared to other minorities and white women2. As reported by Mckinsey, the racial wealth gap, which is caused also by the racial inequality in the workforce has increased from $100,000 in 1992 to $154,000 in 2016 in the U.S., which by closing could increase the national GDP by 4-6% by 20288.
Walmart keeps its employees in poverty by paying below living wages
The US workforce has about 157 million people1. About 1 in 9 workers in the US are paid wages that are insufficient to break the poverty loop, even after working full time2. In 2019, there were 34 million people in poverty in the U.S3. In the U.S., 83% of workers reported suffering from work-related stress, causing 120,000 deaths and USD190 billion in healthcare costs yearly4.
Walmart retains its brick-&-mortar stores despite a rising success in e-commerce
The global e-commerce sector had a net worth of $3.5 trillion in 2019, and is estimated to reach $4.9 trillion by 20211. With everything being available on the internet, e-commerce provides a convenient platform for people to transact1. However, on the flip side, e-commerce has shut thousands of stores and rendered millions of people jobless2. According to a recent study, for every job created in e-commerce, four and a half traditional retail jobs are lost2.