Costco will raise its minimum wage to $16 an hour starting next week, CEO Craig Jelinek said during a Senate Budget Committee hearing on Thursday."Since Costco's inception, the company has been committed to paying the employees very competitive retail wages and providing them broad and affordable health care benefits," Jelinek said. "Two years ago, we moved our starting hourly wage to $15 everywhere in the U.S.
Effective next week, the starting wage will go to $16.""It's important to us that Costco employees have opportunities to make more than just $15 or $16 an hour.
Costco employees receive regular increases for hours worked," he said.FILE - Stock image of the façade of a Costco building. RELATED: Biden says $15 minimum wage likely won't.