Costco is raising its minimum wage to $16 for its hourly store workers


An employee organizes Apple Inc. AirPods for sale at a Costco Wholesale Corp. store in San Francisco, California.

David Paul Morris | Bloomberg | Getty Images

Costco is raising its hourly minimum wage to $16, putting its starting wage above many of its rivals such as Amazon, Walmart and Best Buy.

“Two years ago, we moved our starting hourly wage to $15 everywhere in the U.S. Effective next week, the starting wage will go to $16,” said Costco CEO Craig Jelinek during a Senate budget committee hearing on Thursday.

The retailer has more than 180,000 employees in the U.S. and 275,000 employees worldwide.

This move comes as Congress debates the $15 an hour federal minimum wage increase as part of…


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