Wal-Mart To Spend $1 Billion To Raise US Wages This Year

Wal-Mart Stores Inc, long criticized for its low wages and employee benefits, said it would spend more than $1 billion to increase pay for half a million U.S. employees this year.

The increase announced by the largest private sector employer in the United States will cover about 40 percent of its U.S. workforce, but falls far short of what some labor groups have been agitating for.

Wal-Mart said on Thursday its hourly full-time and part-time workers will earn at least $9.00 an hour, or $1.75 above the current federal minimum wage, starting in April. Current employees will earn at least $10.00 an hour by Feb. 1, 2016.

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