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Walmart hikes hourly pay by $1 for more than 550,000 workers ahead of the holidays

  • Walmart said Thursday that it is raising the hourly wages for more than 565,000 store workers by at least $1.
  • Employees who work on the front end of Walmart stores and in its food and consumable and general merchandise departments will receive the higher wages, which will be effective Sept. 25.
  • The retail industry faces a tight labor market as it prepares to staff up for the holidays.

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Florida, Miami, Walmart discount department store, check out lines.Jeff Greenberg | Universal Images Group | Getty Images

Walmart said Thursday that it is raising the hourly wages for more than 565,000 store workers by at least $1, as the retail industry faces a tight labor market going into the holiday shopping season.

Walmart U.S. Chief Executive John Furner said in a memo to staff that this marks the third investment the company has made in salaries in the past year. Walmart's U.S. average hourly wage is now $16.40, he said.

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