Costco raised its minimum wage to $17 an hour

Authored by edition.cnn.com and submitted by ratskim

New York (CNN Business) 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 Amazon AMZN Target TGT Walmart's WMT 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 aboveand other top retailers' minimum wage, and $5 an hour above

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

Costco raised its minimum wage to $14 in 2018 and $15 in 2019. In February, the Issaquah, Washington-based company hiked it to $16 an hour. Business Insider first reported its most recent increase.

"These increases are part of Costco's continuing efforts to ensure our hourly wages remain extremely competitive in the retail industry," Costco CEO Craig Jelinek said in a memo to employees.

JustNobodyPNW on October 28th, 2021 at 12:12 UTC »

Where I live Costco starts out at like 20/hr and has for a couple years now. Good luck getting 40hr/week though.

Taco here starts out at 17/hr also.

blue_terry on October 28th, 2021 at 09:19 UTC »

My friend working there at storage will be making $24.90 an hour now. With the benefit of taking overtime anytime.

danteheehaw on October 28th, 2021 at 07:29 UTC »

My brother. Works at costco he says everyone got a 2/hr bonus