Target will pay a minimum wage of $24 an hour in the tightest labor markets


Workers at Target stores and distribution centers in places like New York, where competition for employees is fiercest, could see starting wages as high as $24 an hour this year. .

The Minneapolis-based discount retailer led by CEO Brian Cornell said Monday it will adopt a minimum wage that ranges from $15 to $24 an hour, with wages The highest will be paid to employees in the most competitive markets. It currently pays a popular starting rate of $15 an hour.

The new starting salary is part of the company’s plan to spend an additional $300 million on its workforce this year.

“The market has changed in an interview with the Associated Press,” Cornell said. “We want to continue to have a leadership position in the industry.”

Target set a new benchmark for the retail industry in 2017 when it announced it would raise hourly wages to $15 in 2020. But US labor market dynamics have shifted during the pandemic, with Many employers are facing a severe shortage of workers. And many of Target’s competitors are now paying a minimum of $15 per hour or more. Target will pay a minimum wage of $24 an hour in the tightest labor markets


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