Costco raises minimum wage to $16 an hour

This week, Costco plans to raise the starting wage to $16 an hour for U.S. workers. The decision was first revealed by Costco CEO Craig Jelinek in testimony to the U.S. Senate Budget Committee last week. Costco raised its starting pay to $15 an hour in 2019. More than half of Costco's hourly workers in the U.S. are paid above $25, Jelinek said. Yahoo Finance’s Brian Sozzi discusses.