Target Corp will raise its U.S. minimum wage to $13 an hour in June, from $12, i...
WASHINGTON - Target Corp will raise its U.S. minimum wage to $13 an hour in June, from $12, increasing its payroll costs and putting new pressure on rival Walmart Inc to follow suit, given a labor market that is among the tightest in half a century.
Target previously raised minimum hourly pay to $12 in March 2018 from $11. In 2017, Target, said it was committed to raising its minimum wage to $15 an hour by end of 2020. The wage increase will affect “tens of thousands” of employees, a Target spokeswoman said. Amazon.com Inc raised its minimum wage to $15 an hour in October after facing harsh criticism over poor pay and working conditions. The online retailer said at the time that it would lobby Washington for an increase in the federal minimum wage.
Amid the growing political pressure, other companies have also moved to raise wages. For example, Costco Wholesale Corp raised its minimum wage twice in a year and since March has been paying employees at least $15 an hour.
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