Target to raise minimum hourly wage to $15 by 2020
© Getty Images

Retail giant Target is raising its minimum hourly wage to $11 next month and to $15 by the end of 2020, it announced Monday.

The store's move will keep it in competition with companies like Walmart, Whole Foods and Costco, which have also raised wages in past years, Bloomberg reported.

Target spokeswoman Jenna Reck said the wage increase demonstrates a “much bolder and more vocal investment in our team.”

“This is something that will help set Target apart,” Reck said.

ADVERTISEMENT

The increases will apply to the 100,000 seasonal workers employed in Target's 1,800 stores. The company has declined to provide details about how much the move will cost or how many of its 323,000 regular season employees would be affected.

Politicians have been pushing for an increase to the federal minimum wage, which has been $7.25 an hour since 2009. Earlier this year, Sen. Bernie SandersBernard (Bernie) SandersFive takeaways from Cruz, O'Rourke's fiery first debate Ben & Jerry’s co-founders announce effort to help 7 Dem House challengers Dems look to Gillum, Abrams for pathway to victory in tough states MORE (I-Vt.) collaborated with Democratic lawmakers to introduce a bill that would set the wage at $15 an hour. Target’s new lowest hourly wage is higher than the minimum in 48 states.

President Trump’s stance on the minimum wage has wavered, as he has pressed for an hourly minimum wage more than $10 but also complained at times that wages are too high.