Costco Raises Minimal Wage To $17 An Hour – CBS Pittsburgh

(CNN/KDKA) — Costco this week raised its beginning wage for hourly retailer staff in america for the second time this 12 months as companies hike pay to attract and retain staff amid a labor scarcity.

Costco informed staff final week that it might enhance its minimal wage from $16 an hour to $17 beginning on Monday. Costco has round 180,000 US staff, and 90% of them work hourly. Costco’s new beginning wage places the chain— which has among the many lowest turnover charges within the retail trade— $2 per hour above Amazon, Goal and different prime retailers’ minimal wage, and $5 an hour above Walmart’s.

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Costco’s newest pay bump comes as many retailers, eating places and different service sector employers increase pay, provide signing bonuses and sweeten their advantages packages in response to struggles hiring staff.

Costco raised its minimal wage to $14 in 2018 and $15 in 2019. In February, the Issaquah, Washington-based firm hiked it to $16 an hour. Enterprise Insider first reported its most up-to-date enhance.

“These will increase are a part of Costco’s persevering with efforts to make sure our hourly wages stay extraordinarily aggressive within the retail trade,” Costco CEO Craig Jelinek mentioned in a memo to staff.

There are a number of Costco places within the Pittsburgh area, together with one close to the Mall at Robinson, one in Cranberry Township and one other in Homestead, Pennsylvania.

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There’s strain on corporations to boost wages as they compete for labor. Common hourly pay for retail staff elevated 3.8% in September from the identical time final 12 months, based on the newest information from the Labor Division.

Amazon, Goal, Greatest Purchase and others have raised their beginning wages to $15 an hour in recent times. Amazon mentioned in April that it’s growing hourly pay between $0.50 and $3 for 500,000 staff.

Walmart raised its minimal wage from $11 to $12 final month, whereas CVS and Walgreens mentioned in August they might growing beginning pay to $15 an hour.

Wages in September throughout the personal sector grew 4.6% from a 12 months earlier.

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Aila Slisco

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