Costco raised its minimum wage to $17 an hour

[packman]

Costco this week raised its starting wage for hourly store workers in the United States for the second time this year as businesses hike pay to draw and retain workers amid a labor shortage.

Costco (COST) told employees last week that it would increase its minimum wage from $16 an hour to $17 starting on Monday. Costco has around 180,000 US employees, and 90% of them work hourly. Costco's new starting wage puts the chain— which has among the lowest turnover rates in the retail industry— $2 per hour above Amazon (AMZN), Target (TGT) and other top retailers' minimum wage, and $5 an hour above Walmart's (WMT).

Costco's latest pay bump comes as many retailers, restaurants and other service sector employers raise pay, offer signing bonuses and sweeten their benefits packages in response to struggles hiring workers.

https://www.cnn.com/2021/10/27/business/costco-minimum-wage/index.html

[EYESORE 9001]

1. I am happy to find out that Costco will build in my locale

It’ll probably take a year or more to complete, but it’s coming. I hope it gives BJ’s and Sam’s Club some real competition - not only for customers but workers as well.

[JudyM]

2. K$R

Great to see this news.