Target, Walmart, Starbucks and Amazon have been announcing increases to their minimum wages as the federal pay floor remains unchanged since 2009.
Jeff Bezos' challenge to other retailers to match Amazon's $15 minimum wage is just the latest boast from a high-profile company about improving worker compensation as federal lawmakers make little progress.
Companies began making headlines for employee pay raises after President Donald Trump's tax reform bill slashed tax rates for corporations. Walmart was the first retail giant to make such an announcement. The retailer said early last year that it would increase its starting wage rate to $11 per hour and expand maternity and parental leave benefits. Eligible employees also received a one-time cash bonus. Walmart has said its average workers earns $17.55 an hour with wages and benefits.
Target also has plans to increase its minimum hourly wage to $15 an hour, but the Minneapolis-based company is taking more time to reach that mark. The retailer first announced the plan to hit $15 in September 2017. In June, its minimum hourly wage will reach $13. "The conversation about wages is an important one; it's one we wish to advance, not impede," Genna Gent, McDonald's vice president of U.S. government relations, wrote in a letter to the industry group.
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