Walmart CEO Doug McMillon stated that hiring and wage pressures have eased, with a more normalized environment and lower turnover. Wages continue to rise but at a slower rate. AI is shifting employee roles, reducing the need for physically intensive tasks. Walmart, the nation's largest private employer, raised its minimum wage to $14, while competitors had already moved to $15. The labor market cooling is supported by government data showing a drop in job openings. McMillon expects a shift in workforce roles due to increased automation and AI, with the same number of employees but in different positions.