Target raises entry-level pay to $11 an hour, sets sights on $15

MINNEAPOLIS — With a tightening labor market and a holiday hiring spree underway, Target Corp. said Monday that it will raise the minimum wage of all hourly workers to $11 starting in October.

It will bump the rate to $15 an hour by the end of 2020, becoming one of the nation’s first major employers to set a date to hit that mark.

Executives at the Minneapolis-based retailer declined to say how many of its 323,000 hourly employees at stores and distribution centers might get a raise from the current base pay of $10 an hour.

The new policy also will apply to 100,000 seasonal workers it is hiring for the upcoming holiday shopping season.

“It’s part of our overall commitment to investing in our team and making sure we’re attracting and retaining great talent,” Target chief executive CEO Brian Cornell told reporters.