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Target Raises Base Pay to $9

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Target Raises Base Pay to $9

Target announced today that it would raise its base pay to $9 an hour in a move that follows similar announcements from retailers including Walmart. The chain's 347,000 employees can expect the pay bump to take effect this spring. Wage changes at Target and its rivals reflect a strengthening labor market and growing outcry about the static federal minimum wage of $7.25 an hour. Target's announcement comes on the heels of disappointing earnings reports and a total retreat from Canada. Last month, the company laid off 1,700 corporate division workers as part of a plan to save $2B over the next two years. [NYT]