Target raising its minimum wage to $13 from $12

Target raising its minimum wage to $13 from $12

According to Reuters, Target employs 300,000 workers throughout its 1,845 stores.

Target announced Thursday that it's bumping its minimum hourly wage to $13 in June, an increase of one dollar an hour for "tens of thousands" of current and future employees.

Target's first major increase came in October 2017 - a month after it first unveiled plans to reach its 2020 goal - when it advanced its minimum wage to $11.

Retailers have been finding it tougher to attract workers, with US unemployment at its lowest level in almost 50 years, while there has been growing political pressure on companies to pay workers a fair living wage. Walmart declined comment on the issue.

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So basically the state is not going to reach the $15.00/hr minimum wage until 2024. The online retailer said at the time that it would lobby Washington for an increase in the federal minimum wage. "They're at the heart of everything we do to fulfill our goal of bringing guests joy", Melissa Kremer, Target's new Chief Human Resources Officer, said in a post on Target's Bullseye View blog.

Target's rate is higher than rival Walmart's (NYSE:WMT) $11-an-hour minimum, set in January 2018, but is still below Amazon (NASDAQ:AMZN), which raised its hourly minimum to $15 in November.

In March, Target forecast 2019 profit above Wall Street estimates after a strong holiday season.

Last year's pay hike contributed to Target fulfilling an ambitious goal over the 2018 holiday season to hire 120,000 seasonal team members.

Responding to competition from Amazon, Target has been making moves to improve the experience for shoppers and employees.

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