Target to Increase Minimum Wage to $10

Target is in the process of raising the minimum wage for its employees to $10 an hour, sources told Reuters. The retail giant is under pressure from labor groups calling for higher wages and competitors like Wal-Mart, which made a similar move this year aimed at attracting employees in a competitive job market. The increase is Target’s second in a year, and the raises are expected to kick in by May, Reuters reported. In January, Wal-Mart also raised its base wage to $10 in its second annual increase.