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Costco (COST) will boost its minimum wage by $1 to $16 starting next week, the membership warehouse retailer's CEO said on Thursday during a Senate panel hearing.
Jelinek said the starting wage for Costco employees would rise to $16 next week, up from $15 the company instituted two year ago. Costco to raise starting hourly wage to $16; end hazard pay Skip ...
Costco CEO Craig Jelinek announced during a U.S. Senate Budget Committee meeting today that it will raise its hourly minimum wage to $16 an hour. The rate stands at one dollar higher than the ...
In February 2021, Costco announced that it would be raising the starting rate for its hourly store workers in the United States to $16 an hour. Costco has been actively raising their minimum wage starting with $14 during 2018, and into $15 during 2019. They further add that 20% of their hourly employees will be subject to the minimum wage change.
Following the enactment of the Puerto Rico Minimum Wage Act (Law 47 of 2021) there will be a yearly increase of the minimum wage from $7.25 to $10.50 per hour by July 1, 2024. Minimum wage increased to $8.50 on January 1, 2022, [330] with subsequent increases for all employees covered by the FLSA as follows: [331] $9.50 on July 1, 2023
As of October 2023, France has the highest hourly minimum wage at $13.80 per hour. [1] The United States has a comparatively low minimum wage for hourly workers at $7.25 per hour. Unusually, this rate does not apply to tipped employees, who are only entitled to an hourly wage of $2.13, which contributes to a strong tipping culture in the country.
Costco is raising its minimum wage to $16 an hour, leapfrogging competitors including Target and Amazon. The pay hike goes into effect next week.
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