Why Costco won’t have a problem with California’s $15 minimum wage

In a history-making move that would have a direct impact on the retail industry and food service sector, the state of California has moved closer to raising the statewide minimum wage to $15 an hour by 2022.

 

But the increase, which would give California the highest minimum wage of any state in the nation, won’t have much much of a financial impact on Costco Wholesale Corp., according to The Street. That’s because the retailer already pays its workers well above the average. In fact, the average hourly wage for a Costco worker in California is already $22.50.

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