Target said Wednesday it will raise its minimum wage for employees to $15 up from $13 starting July 5, a few months ahead of a deadline it set three years ago.
The retailer had made a pledge in 2017 to increase wages to $15 an hour by December 2020. The company said Wednesday that the new minimum wage applies to 275,000 part-time and full-time employees at its discount stores, distribution centers and its headquarters.
A tight labor market before the pandemic had prompted major retailers including Walmart and Amazon to announce wage hikes. The federal minimum wage is $7.25, and it hasn't increased in over a decade.
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