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Costco lifts minimum wage above Amazon or Target to $16 per hour
Costco Wholesale Corp is raising the minimum wage for its hourly staff to $16 from next week, a dollar more than what its competitors Amazon.com Inc and Target Corp pay per hour.
www.reuters.com
(Reuters) - Costco Wholesale Corp is raising the minimum wage for its hourly staff to $16 from next week, a dollar more than what its competitors Amazon.com Inc and Target Corp pay per hour.
The membership-only retailer’s move comes as U.S. President Joe Biden plans to raise the minimum wage to $15 per hour by 2025, and a week after rival Walmart Inc raised its hourly wage to an average of $15.
Costco's Chief Executive Officer Craig Jelinek made the announcement at a U.S. Senate Budget Committee hearing on worker wages at large companies. (bit.ly/3r6YwoQ)
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I think this is both inflationary as well as out of whack with inflation. The $1.25 min wage I was paid in 1960 is worth today under $11. But in 1960 I lived at home & didn't have car expense.