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Jobs hiring: Costco raises minimum wage to $17 an hour as businesses hike pay to retain workers amid labor shortage – Fresno, California

Fresno, California 2021-10-28 01:01:56 –

Costco has raised the starting salary of US hourly workers twice this year as companies raise wages to attract and retain workers in a labor shortage this week.

Costco told employees last week that it would raise the minimum wage from $ 16 to $ 17 an hour starting Monday. Costco has approximately 180,000 American employees, 90% of whom work every hour. Costco’s new start-up wage is one of the lowest turnover rates in the retail industry, with chains $ 2 per hour above the minimum wages of Amazon, Target, and other top retailers, and 5 per hour above Wal-Mart. It is above the dollar.

Costco’s latest wage increase has helped many retailers, restaurants and other service sector employers raise wages, offer contracts and undermine benefits packages in response to the hardships of workers. It is brought about by.

Costco has raised the minimum wage to $ 14 in 2018 and $ 15 in 2019. In February, a company based in Issaquah, Washington raised the minimum wage to $ 16 per hour. Business Insider first reported the recent increase.

“These increases are part of Costco’s ongoing efforts to make hourly wages highly competitive in the retail industry,” Costco CEO Craig Jerinck said in a memo to employees. I am.

Companies are competing for the workforce, putting pressure on them to raise wages. According to the latest data from the Ministry of Labor, the average hourly wage of retail workers in September increased by 3.8% from the same period last year.

Amazon, Target, Best Buy and others have recently raised their starting wages to $ 15 per hour. Amazon said in April that its hourly wage was increasing between $ 0.50 and $ 3 for its 500,000 employees.

Wal-Mart raised the minimum wage from $ 11 to $ 12 last month, but CVS and Walgreens said they would raise their starting wages to $ 15 per hour in August.

Wages in the private sector as a whole in September increased by 4.6% year-on-year.

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Jobs hiring: Costco raises minimum wage to $17 an hour as businesses hike pay to retain workers amid labor shortage Source link Jobs hiring: Costco raises minimum wage to $17 an hour as businesses hike pay to retain workers amid labor shortage

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