Economics

Summary

Costco will raise hourly pay for most U.S. store workers, increasing top-tier wages to $30.20 in the first year and adding $1 annually for two more years.

Entry-level workers will see a $0.50 increase to $20 per hour.

The move follows a strike authorization by the Costco Teamsters union, representing 18,000 employees, amid contract negotiations.

CEO Ron Vachris stated the pay hikes keep Costco’s wages ahead of industry standards.