Costco Raises Its Minimum Wage to $16 an Hour

By Sheridan Fifer

In a move that experts say will put pressure on rival retailers, Costco has raised its starting hourly wage to $16 an hour. In 2018, Amazon raised its starting wage to $15, and Walmart recently announced plans to raise thousands of associates' pay to bring its average hourly wage to over $15 an hour, though its minimum starting wage would remain the same at $11. Target and Best Buy both raised their minimum wages to $15 an hour last year. 

Costco's average wage for hourly employees is around $24 an hour. Costco employees have also received an extra $2 an hour in hazard pay during the pandemic since March. 

Read the full story at CNN Business.