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Macy’s Boosts Its Hourly Wage to $15 Amid U.S. Labor Crunch

  • Department-store operator also offers new education benefit
  • Higher minimum pay will go into effect companywide by May
Inside Macy's Flagship Store Ahead Of Earnings Figures
Photographer: Amir Hamja/Bloomberg

Macy’s Inc. became the latest retailer to offer employees higher pay and sweetened benefits as U.S. companies struggle to attract needed workers. 

The department-store chain will raise its minimum pay rate to $15 an hour across the company by next May. Macy’s is also starting an education benefit program for workers that covers the cost of tuition, books and fees, according to a statement from the company released Monday.