Costco reportedly raises minimum wage to $17 an hour - Fox Business

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Costco Wholesale Corporation raised its minimum wage to $17 an hour this week, according to reports.

"Effective October 25, 2021, we will adjust the starting hourly wages for new employees in the U.S. to $17.00/hour for Service Assistants, $18.00/hour for Service Clerks and $18.50/hour for Meat Cutters," an Oct. 19 memo provided to TODAY Food read. "Current U.S. employees making less than these rates will be moved up to these rates on their scales, and their goal hours will be reset. Please contact your GM or Payroll Clerk with any questions."

2021 HOLIDAY SALES PROJECTED TO HIT NEW RECORDS

"These increases are part of Costco’s continuing efforts to ensure our hourly wages remain extremely competitive in the retail industry. We remain proud to be able to pay employees well and provide excellent benefits. As in the past, we will review hourly wage scales in connection with the upcoming Employee Agreement," Costco CEO Craig Jelinek reportedly wrote.

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The big-box retailer told Business Insider that the change went into effect on Monday.

Costco previously raised its minimum wage to $16 per hour in February (iStock)

Costco did not return FOX Business' request for comment.

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The news comes after Costco raised its minimum wage to $16 in February of this year.

"It's important to us that Costco employees have opportunities to make more than just $15 or $16 an hour. Costco employees receive regular increases for hours worked," Jelinek said during a Senate Budget Committee hearing at the time.

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