Reports: Target raising minimum wage to $10 per hour

Target is raising its minimum wage to $10 per hour starting in May, sources familiar with the decision told Reuters and the Wall Street Journal. Target Corp. wouldn’t confirm the wage hike, but provided the following statement:

The minimum wage hike matches an increase implemented by top competitor Wal-Mart earlier this year. Target previously increased its base minimum wage to $9 an hour in 2015, following an increase by Wal-Mart.

On Aug. 1, 2015, minimum wage in Minnesota was increased to $9 per hour for large companies with annual gross sales of $500,000 or more. Smaller companies must pay employees at least $7.25 an hour, based on annual gross sales. Beginning August 1, 2016, Minnesota’s minimum wage will rise to $9.50 per hour and may continue to rise in future years due to inflation.

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