Target Adopting Minimum Wages as High as $24 an Hour

U.S. retailer Target has announced it will adopt a minimum wage system that will pay company employees up to $24 an hour.

In a statement on Monday, the Minneapolis-based retailer said that the new minimum wage will range from $15 to $24, depending on the job and local market. The system is also part of Target’s plan to spend an additional $300 million on its labor force, which includes expanded access to health care coverage and an enhanced benefits package for employees.

Some of Target’s rivals, including Best Buy, have raised their hourly minimum wages for employees during the COVID-19 pandemic.

Costco raised its hourly minimum wage from $16 to $17, and Amazon’s starting wage is $15 an hour, with an average starting wage for transportation and fulfillment jobs of $18 per hour.

Walmart boosted its hourly minimum wage for employees to $12 an hour, raising the hourly wages for more than 565,000 store workers by at least a dollar as well, the AP noted.