Costco to raise its minimum wage to $16 an hour

Business

A file photo of a Costco storefront. (Credit: Costco Wholesale)

Costco said on Thursday it would raise the minimum wage for its hourly staff to $16 per hour starting next week.

According to CNBC, the retailer has over 180,000 employees in the US. and 275,000 employees worldwide. Beginning in March of last year, the chain instituted a $2 an hour premium to its employees to help cushion the financial strain that the pandemic brought to many people.

Costco’s wage will put its starting above Walmart, Amazon, Target and Best Buy.

Costco has 803 locations worldwide, including 558 in 45 U.S. states, Washington and Puerto Rico.

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