Earlier this year, Walmart raised the minimum wage to $10 (an estimate $2.6 billion investment) for all but the newest hires. This hike in minimum wage officially took place on February 20, 2016. This action lifted the average hourly rates over a million Walmart employees as follows:
Members hired before Jan. 1, 2016 earns at least $10 per hour
New hires continue to start at $9 per hour and bumps up to $10 after completing training program Pathways
Hourly Full-Time: $13.38 (receives annual pay increase)
In addition to the new wage hike, Walmart (and company brand Sam’s Club) also launched a new paid time off (PTO) policy which took place March 5, 2016. The new PTO plan eliminates the one day wait to use sick time, PTO earnings based on tenure and hours worked and all PTO rolled into one category.
Jumping on the wage increase trend, Target just announced their plans to also raise minimum wage to $10 per hour. Target just recently informed all worker of this news and the effect will take place in May and this comes from two sources with direct knowledge as reported by Reuters. However, Target has yet to confirm officially on their pay increase.
This recent wage increase comes just after Target announced their minimum wage increase to $9 last year in March where the change was, coincidentally, also spearheaded by Walmart.
In more recent news, a deal to raise California’s minimum wage to $15 an hour by 2022 took place on Monday March 28, 2016. This wage increase is set to boost the wages for an estimate of 6.5 million California workers and awaits approval by state assembly. Here’s a combined table of the following U.S. cities and states where the $15 minimum wage are currently phasing in, full phased-in, pending approval and employers (from select cities and state) that pays minimum wage of $14 and over.
Are you on board with the $15 minimum wage movement?