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Target’s Minimum Wage is Getting a Raise (Again) — This Time to $11/Hour
In the midst of the minimum wage raise saga playing out in cities across the U.S., Target is taking the lead — again.
The company announced this week it would be raising the minimum wage for its workers to $11 an hour in October, a year after its initial raise to $10 an hour in 2016. And it’s not stopping there — Target aims to hike its minimum wage to $15 an hour by 2020.
The increase applies to the 100,000 or so seasonal workers Target plans to hire in October. (Score!)
“Target has always offered market competitive wages to our team members,” Target chairman and CEO Brian Cornell said in a news release. “With this latest commitment, we’ll be providing even more meaningful pay, as well as the tools, training and support our team needs to build their skills, develop professionally and offer the service and expertise that set Target apart.”
This couldn’t come at a better time for workers. A Penny Hoarder analysis showed that minimum wage jobs are no longer just for teenagers. In fact, the share of 16- to 24-year-olds working minimum-wage jobs is at its lowest point in more than a decade.
And just try finding an affordable apartment on minimum wage.
With Minimum Wage Hike, Target is Really Killing the Game This Year
The news about Target’s minimum wage increase comes at a time when we didn’t think it was possible to love a department store anymore.
(Psst, here’s how to make it even cheaper…)
The chain also recently announced it lowered prices on thousands of items, from diapers to razors, and made it easier for shoppers to see what’s on sale at the time.
Keep it up, Target. We’re almost ready to forgive you for that credit card breach. Almost.
Alex Mahadevan is a data journalist at The Penny Hoarder.