Economic realities

From the Arizona Republic:

When more than 8,000 people apply for 525 Wal-Mart jobs, it raises the question: What’s really happening in our economy?

The world’s largest retailer will open its newest Arizona Supercenter today in Glendale at 56th and Northern avenues with help from the lucky few who were able to snag one of the coveted positions. The applicant-to-new-hire ratio means one in 15 applicants will be soon be sporting a blue Wal-Mart vest.

Starting hourly pay: $6.75, which is on par with competitors Target Corp. and Kmart, say Wal-Mart Stores officials. When the store opens about 90 percent of those jobs will be full time, although that number will likely drop to 70 percent.