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Costco Wholesale Corporation (COST) to Raise Minimum Wage by $1.50 an Hour

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Costco Wholesale Corporation ( COST ) has announced that it will be raising minimum wage by $1.50 an hour .

The new wage increase will take workers from starting wages of $11.50 to $12 and hour to $13 to $13.50 an hour. The wage increase will occur in March and it's the first time in nine years that the company has increased its minimum wage, reports CNNMoney.

Costco currently employs 205,000 workers. It's highest paid workers make $22.50 an hour and it also offers pension plans and health benefits for many of its employees. It's the second largest retailer in the United States next to Wal-Mart Stores, Inc. ( WMT ), which raised its minimum wage last year, CNNMoney notes.

Costco and Walmart aren't the only retailers raising their minimum wage. TJX Companies Inc ( TJX ) announced it would be increasing minimum wage for its employees to $9 an hour in June .

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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