Issaquah retailer Costco lifts minimum wage above Amazon, Target to $16 per hour

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Issaquah retailer Costco lifts minimum wage above Amazon, Target to $16 per hour

Costco Wholesale Corp., the Issaquah, Washington-based American multinational retailer that operates a chain of membership-only warehouse clubs, has raised the minimum wage of its hourly workers above rival Inc and Target Corp to $16 per hour, a dollar more than the aforementioned Costco rivals had been paying off to their hourly workers, the 38-year-old member-only retailer said later last week.

On top of that, latest move from Costco to raise its hourly workers’ minimum wage to $16 per hour came forth a week after the world’s largest brick-and-mortar and online retailer Walmart Inc had raised its hourly wages to an average of $15 per hour.

More importantly, the membership-only retailer’s recent approach to hike payrolls of its hourly workers came forth amid the US President Joe Biden’s push to raise minimum wages to $15 per hour by 2025, nonetheless, industry analysts were quoted saying over the weekend that a Biden Administration would likely to meet with a steeper headwind regarding its drive to lift up minimum wages to a $15 per hour.

Costco to raise minimum wages for hourly workers to $16/hour

In factuality, Costco Wholesale Group, the retail warehouse club chain employing more than 180,000 workers in the United States, had also offered a premium payment to workers during the peak of the pandemic, while the membership-only retailer, founded in Seattle, Washington, had experienced a blowout rally in sales last year as pandemic-wary Americans were found to be stockpiling their pantries.

Meanwhile, speaking at a US Senate Budget Committee hearing on worker wages at large companies following the announcement, Costco Chief Executive Craig Jelinek said, “It takes a lot of time to interview, find employees, lot of labor involved just trying to hire individuals.

We want people to stay with us. Costco raised its minimum wages for hourly workers to $15/hour back in the 2019s, a couple of years earlier than those of a deluge of deep-pocket rivals.