January 25, 2023
Walmart is increasing its U.S. hourly wage, from $12 an hour to $14.
The strategy, according to a Wall Street Journal report, is in response to the hiring shortage and hiring challenges retailers are dealing with.
Competitors Amazon and Target have a minimum hourly wage of $15 and Costo's starting hourly pay is even higher, according to the news report.
The current federal minimum hourly wage is $7.25 and will rise to $9.50 come July.
In recent years retailers have temporarily boosted hourly pay to help staff stores during holiday sales seasons. In 2021 Target paid an extra $2 an hour to retail associates and service center workers for working peak days during the holiday season.