ALTHOUGH inflation has been surging, some have seen their wages rise – with major retailers headlining the hourly pay spike.
The average hourly wage for low-income workers climbed to $11.70 from $10.79 in the second quarter when compared to the same period in 2019, according to Pew Research Center.
And the median hourly wage for high-income earners rose to $52.68 from $50.59.
Since the onset of the coronavirus pandemic, many large retailers have raised hourly wages for employees.
We round up some that have done so below.
Amazon recently boosted its average starting wage for its workers to $18 an hour, according to Reuters, making it the best rate of the five retailers.
While the average will increase, it is keeping its base pay flat at $15 an hour.
The e-commerce giant plans to hire 125,000 workers.
As of its latest earnings report in July, Amazon employed 950,000 workers.
Target last increased its minimum wage to $15 an hour in the summer of 2020.
Moreover, Target recently said it will pay its retail, service center, and select headquarters employees an extra $2 an hour.
To be eligible, those need to work Saturdays and Sundays from November 20 to December 19.
The bonus will also be available on December 24 and December 26.
Plus, hourly supply chain employees can get the extra $2 per hour raise for working two-week periods between October 10 and December 18.
Target has more than 350,000 employees.
Although Walmart has faced criticism from labor advocates including Vermont Senator Bernie Sanders, the company has raised wages for the third time in the past year.
In the US, Walmart now pays an average hourly wage of $16.40.
However, it still does not pay a $15 minimum wage. Its minimum wage is now $12 an hour after the latest hike.
According to Walmart, it employs nearly 1.6million associates in the US.
In February, Costco said it would hike its starting wage to $16 per hour.
This marked the first time in two years it lifted wages for workers when it was previously $15 per hour.
According to Costco, it has 275,000 employees globally.
Home Depot, on the other hand, has not released any specifics on its minimum wage.
However, it did say in late 2020 that it would invest $1billion a year in liftings wages.
While pay can sometimes varies by state, the average hourly wage at Home Depot is $13.13, according to PayScale.
Home Depot employs about 500,000 workers in the US, Mexico, and Canada.
Recently, we explained five ways you can lower your grocery bill.
Plus, we show you some ways you can save money when shopping at Walmart and Amazon.
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