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Costco will pay all workers at least $16 per hour, as the CEO advocates for a higher minimum wage

Costco will pay all workers at least $16 per hour, as the CEO advocates for a higher minimum wage

Costco is raising its minimum wage to $16 per hour.
Chip Somodevilla/Getty Images




Costco is raising its minimum wage to $16 per hour.




CEO W. Craig Jelinek said in a congressional hearing that raising pay was good for business.




Costco raised minimum wage to $15 in 2018, and over half of workers make more than $25 per hour




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Costco is raising its minimum wage to $16 per hour. On Thursday, Costco CEO W. Craig Jelinek announced that the company's minimum wage will be $16 per hour starting next week. Jelinek announced the raise while speaking at a Senate budget hearing with the title: "Should Taxpayers Subsidize Poverty Wages at Large Profitable Corporations?"Jelinek said that the raise is "good business," as it cuts down on turnover, with employees averaging more than nine years at the company. According to the CEO, one of the biggest factors in Costco's success is that it has the best employees in the retail industry. "We're certainly not perfect, but we try to take care of our employees, because they play such a significant role in our success," Jelinek
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