Report: Target To Raise Minimum Wage To $9/hour

(RTTNews) - Discount retailer Target Corp. (TGT) plans to raise pay of all its workers to at least $9 an hour starting next month, following similar moves by rivals Wal-Mart Stores Inc. (WMT) and TJX Cos., Inc. (TJX), the Wall Street Journal reported Wednesday.

Wal-Mart, the world's largest retailer and the largest private-sector employer in the U.S., said last month that it will hike the wages of about half a million full-time and part-time employees at its namesake U.S. stores and Sam's Clubs in the first half of the current fiscal year.

By April, all hourly Wal-Mart employees will earn at least $1.75 above today's federal minimum wage, or $9.00 an hour, and by February next year, all hourly Wal-Mart employees will earn at least $10.00 an hour, the Bentonville, Arkansas-based company said.

TJX followed with an across the board pay hike also to $9 an hour starting in June, and at least $10 an hour next year if an employee has been with the company for at least six months.