Brought to light in May 2016, popular American department store chain, Target, previously raised their minimum wage for all of their employees to $10 per hour. Just six years later, the retail giant has now managed to double their employees wages to a whopping $24 per hour at the commencement of 2022. Back in September 2017, Target boosted their minimum wage prices up to $11 before ultimately increasing the income to $15 by the conclusion of 2020. Minimum wage in the United States has been continuously growing as the overall income is now at a total of $7.25, which is quite low when comparing it to individual states such as New Jersey ($13.00 per hour).
Target CEO Brian Cornell recently stated the following in a public interview with The Associated Press: “The market has changed. We want to continue to have an industry-leading position.” As Target is transparently trying to one-up their competing stores, it will be interesting to notice if there is a sudden rise in employees since the newly implemented minimum wage income. Throughout the 2021 work season, the retail store was able to surpass their initial goal of obtaining approximately 100,000 employees, accompanied by ‘30,000 in its supply chain network.’ The department store’s rivals are presently offering $15 or more for each of their individual chains, clearly not even on the same level as Target themselves