Walmart raises minimum wage to $14

Walmart employees are getting a raise in an effort to retain store and warehouse workers.

>> Read more trending news

The company announced on Tuesday that the minimum wage would go from $12 to $14 an hour, CNN reported.

The new pay rates will be seen in paychecks issued in March, NBC News reported.

Walmart workers currently earn about $17 an hour on average, which will go to $17.50 once the new wages are in effect. Some workers will be paid up to $19 an hour, NBC News reported.

About 340,000 employees or about 21% of Walmart’s 1.6 million U.S. workers will get the pay bump.

Walmart’s closest competitors, however, pay their employees more. Amazon and Target have their minimum pay set at $15. Costco has a $17 hourly wage, CNN reported.

The federal minimum wage, which was last raised in 2009, is currently $7.25 an hour, The Wall Street Journal reported. Twenty states, especially in the south, do not have their own minimum wages, CNN reported, so Walmart’s pay is often the benchmark used for a local minimum wage in those areas.

Of the states that do have a minimum wage, Washington has the highest at $15.74, CNN reported.

Comments on this article
On Air99JAMZ - Miami's #1 For Hip Hop and R&B Logo

mobile apps

Everything you love about and more! Tap on any of the buttons below to download our app.

amazon alexa

Enable our Skill today to listen live at home on your Alexa Devices!