Costco is giving a boost to thousands of U.S. employees by raising its minimum wage to $16 an hour.
Chief executive Craig Jelinek shared the news Thursday while addressing the Senate Budget Committee in Washington D.C.
That puts the company's minimum wage higher than retail rivals like Target or Best Buy, and affects about 20 percent of the company's 180,000 U.S. employees.
Costco has also been offering employees an extra $2 per hour in hazard pay since the pandemic began last March.
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