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Disney cast members approve new contract to raise minimum wage

Mickey Mouse rides in a parade at Disney World's Magic Kingdom in Orlando, Florida. Photo: Joe Raedle/Getty Images

Union leaders unanimously voted to approved a new contract for Walt Disney World cast members that increases the minimum hourly wage from $10 to $15 over three years, a move that would also enable Disney to hire more part-time workers.

Why it matters: The move will affect more than half of the 70,000 people Disney World park employs — the largest single-site employer in the country. As Axios’ Erica Panday reports, Disney's move to boost its part-time workforce is part of a national trend. According to a press release from the company, "[i]ncreasing wages for Cast Members represents a significant investment in Central Florida, and will provide a powerful boost to the local economy."