Mixed Day on Wall Street as Unemployment Claims Decline, Walmart Announces Minimum Wage Increase - East Idaho News
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Mixed Day on Wall Street as Unemployment Claims Decline, Walmart Announces Minimum Wage Increase

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Thinkstock 021915 WallStreet?  SQUARESPACE CACHEVERSION=1424381119747tarabird/iStock/Thinkstock(NEW YORK) — Thursday was a mixed day on Wall Street, with two of the three major indices posting small losses, as one of the largest corporations in the U.S. announced it would increase the minimum wage for its workers.

The Dow Jones Industrial Average dropped 44.08, dipping below the 18,000 marker to to a close of 17,985.77.

The Nasdaq saw gains of 18.34 as the index climbed to 4,924.70, while the S&P 500 slipped 2.23 to 2,097.45.

Walmart announced Thursday that full-time and part-time associates at its stores will see their wages increase to $9 this year. The current federal minimum wage is $7.25. Wal-Mart Stores, Inc. President and CEO Doug McMillon said in a statement Thursday that the changes “will give our U.S. associates the opportunity to earn higher pay and advance in their careers.”

Also on Thursday, the U.S. Labor Department announced that jobless claims had declined by 21,000 from last week. The figure was not influenced by “special factors,” according to the department.

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