Walmart is raising its base pay from $12 to $14 an hour. The company says the raises are expected to bring its average hourly wage up to “more than” $17.50 an hour.
Walmart, America’s largest private employer, said Tuesday that it will raise its minimum wage from $12 to $14 an hour as it tries to retain store and warehouse workers in a tight labor market for lower-wage industries. Walmart has 1.7 million workers in the United States, 94% of whom are hourly employees, according to its latest annual securities filing. The company hired hundreds of thousands of workers during the Covid-19 pandemic to meet strong consumer demand for groceries and other goods.
Walmart is trying to keep pace with rivals as well as cities and states that have been raising their minimum wages. The federal minimum wage has been $7.25 an hour since 2009. Washington State has the highest minimum wage in the country at $15.74. While dozens of companies, including Walmart, have laid off corporate staff in recent months, demand for service industry workers remains strong. Walmart currently has nearly 30,000 store jobs listed on its hiring website.
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