Economy

Target raises minimum wage to $11 an hour, $15 by 2020

Target raises minimum wage to $11 an hour, $15 by 2020”

As part of their "Fight for Fifteen" movement, unions are now pushing for raising the minimum wage to $15 per hour across industries, as it is considered to be a "living wage" by labor advocates.

Chief Executive Brian Cornell told reporters on a call that Monday's decision would leave Target better prepared for the upcoming holidays, helping the retailer to attract new employees and retain existing workers in an increasingly complex retail environment.

The company said the $11 hourly wage tops the minimum wage in 48 states and matches the minimum in MA and Washington. Target also said the move would provide an "elevated experience" for shoppers and communities.

Cornell said the wage increase would affect thousands of workers.

"Target has a long history of investing in our team members".

According to Target, a minimum hourly wage of $11 is higher than the minimum wage in 48 states, and matches the minimum wage in MA as well as Washington.

Target (NYSE:TGT) announces a hike in its minimum hourly wage to $11 per hour in October from a current level of $10 per hour.

Petitions calling for the minimum wage to be increased at other major companies, including McDonald's and Starbucks, have also been ongoing.

Target, which does not typically make wage increases public in this manner, previously raised minimum pay by a dollar in both 2015 and 2016, pressured by labor groups and a competitive job market driven by minimum wage increases at Wal-Mart Stores Inc. Last year, the Fight for $15 movement took a downturn for McDonald's employees, however, when the company began pushing for a kiosk-based ordering system that would negate the need for real-life employees in stores.



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