In Tight Labor Market, WalMart Hikes Minimum Wage Rate

Stop me if you have heard this before: In a tight labor market (or very tight labor market, depending the field), employers are fighting not only for the cream of the crop but often simply just for enough employees to stay afloat.

On Tuesday, WalMart upped the ante by announcing that by March, it would raise its minimum wage rates to $14/hour for its workers. This 17% wage hike comes on the heels of WalMart fighting with other big box retailers like Target and Costco for workers.

With this minimum wage hike, the company’s average hourly rate is expected to hit $17.50/hour.

The question now becomes…who is going to try and one up WalMart in the midst of a tight labor market?

For additional information: https://www.cnbc.com/2023/01/24/walmart-raises-minimum-wage-as-retail-labor-market-remains-tight.html

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