NEW YORK (AP) — TJX Cos., the owner of T.J. Maxx, Marshalls and Home Goods stores, says it will boost pay for U.S. workers to at least $9 per hour.
The announcement comes a week after Wal-Mart Stores Inc. said it would increase wages for its employees. Low-paying retailers are having a harder time retaining workers as the job market improves.
A TJX spokeswoman declined to say what workers currently earn. A recent Credit Suisse report estimates TJX’s current hourly pay at about $8.24.
Hourly workers will start to receive the pay increase in June. In 2016, the company plans to pay all associates that have worked at its stores for more than six months at least $10 per hour.
TJX, based in Framingham, Massachusetts, operates 3,395 stores and has about 191,000 associates.
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Note that NY State minimum wage (for instance) is already $8.75/hour.
“Low-paying retailers are having a harder time retaining workers as the job market improves.”
Say that again in your head slowly. Again. Again. Again.
THANKS OBAMA!
Of course, that pretty much explains why the MSM is fairly mum on the whole story: it constitutes proof that the economy is healing under Obama.
Pretty good kick for a lame duck.
This miserly meting out of concessions is to me a preemptive tactic by an industry that knows they’re losing. No time like the present to redouble our resolve, and not put down those pitchforks and torches yet.
I’m with you… i think they are trying to avoid the $15/hour which is coming down the pike.
to the pitchfork store!