NEW YORK (AP) - Target Corp. is raising its minimum hourly wage to $11 starting next month and then to $15 by the end of 2020 in a move it says will help it better recruit and retain staff and provide a better shopping experience for its customers.
Target's initiative is part of its overall strategy to reinvent its business. But its move to increase entry-level hourly pay to $15 far exceeds not only the federal minimum of $7.25 per hour but the entry-level hourly base pay at Walmart, the nation's largest private employer, and at plenty of other retail peers whose minimum hourly pay hovers around $10.
The changes come at a time when there's growing concern for the hourly workers' plight. At the same time, competition for workers is becoming increasingly stiff.
(Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)