Costco recently raised its starting wage for hourly store workers in the United States for the second time this year as businesses hike pay to draw and retain workers amid a labor shortage. Costco’s new starting wage, $17 per hour, puts the chain – which has among the lowest turnover rates in the retail industry - $2 per hour over Amazon, Target, and other top retailers minimum wage and $5 per hour above Walmart. Costco’s latest pay bump comes as many retailers, restaurants and other service sector employers raise pay, offer signing bonuses and sweeten their benefit packages in response to struggles hiring workers.

Read Full Story