Costco raises minimum wage to $17 an hour

Retailer has one of lowest turnover rates in industry

(AP Photo/David Zalubowski) (David Zalubowski, Copyright 2020 The Associated Press. All rights reserved.)

Costco is raising its hourly wage to $17 an hour.

This is the second time this year the retailer has hiked workers’ pay.

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In February, the company raised hourly wages to $16 an hour.

Costco has about 180,000 U.S. employees and 90% of them work hourly.

This new pay bump is about $2 above Amazon, Target, and other top retailers.

Several large companies have increased wages recently as they compete for labor.

Costco has one of the lowest turnover rates in the retail industry.