Target To Raise Its Minimum Wage To $15 By 2020

Target promises to raise its minimum wage to $15 by 2020 according to reporting by CNBC. (Photo Credit: Jay Reed / Flickr)

Target promises to raise its minimum wage to $15 by 2020 according to reporting by CNBC.

The big-box retailer said Monday it will start raising its minimum wage next month from $10 an hour and will eventually reach $11 for all its U.S. stores. The pay raise will outpace Wal-Mart's recent increase in its minimum wage. The two retailers have been engaged in a quiet wage war for years. Target also committed to boosting its minimum wage to $15 per hour by 2020.

Democrats recently introduced a $15 minimum wage bill, backed by Sen. Bernie Sanders, following the Obama administration's second-term proposal to raise the level to $10.10 an hour, which got no traction in Congress.

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