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Published: Dec 15, 2021 4 min read
Exterior shot of a Hobby Lobby store in Florida
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Hobby Lobby is the latest major retailer to announce starting wages well above $15 an hour.

The arts-and-crafts store unveiled plans on Tuesday to increase its “minimum full-time hourly wage” to $18.50. The wage hike goes into effect Jan. 1.

The current minimum wage for full-time workers at the company sits at $17. Come 2022, those workers will see a $1.50 an hour increase.

Part-time workers are not eligible for the $18.50 hourly rate, however, as they have separate wage floors. In October, the company bumped its part-time minimum wage to $13. Hobby Lobby's announcement did not mention any new changes to wages for part-time workers, nor did it state what percentage of its employees are full-time. Money reached out to Hobby Lobby for more details, and we will update this article if the company responds.

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According to the announcement, this marks Hobby Lobby’s 12th wage increase in the past 13 years, and the company has had a full-time minimum wage of at least $15 since 2014.

The company’s decision to increase wages comes amid a tight labor market that has employers locked in a game of one-upmanship. Throughout the labor shortage, many well-known employers have been raising pay and sweetening their perks and benefits packages to attract workers.

Where jobs pay $15 an hour

Here’s a look at major companies with $15 minimum wages:

  • Amazon (in effect)
  • Best Buy (in effect)
  • CVS (by July 2022)
  • Southwest Airlines (in effect)
  • Target (in effect)
  • Under Armour (in effect)
  • Walgreens (by November 2022)
  • Wayfair (in effect)

In years past, a $15 minimum wage was a rallying cry for workers. Amid record-setting inflation, that amount doesn’t seem to cut it anymore — and some companies are going higher.

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Where jobs pay over $15 an hour

Employers with minimum wages higher than $15 include:

  • Bank of America ($21, with plans to hit $25 by 2025)
  • Costco ($17)
  • PNC Bank ($18)

Earlier this summer, Starbucks announced plans to reach a $15 minimum wage over the next three years. Currently, its minimum wage is $12. Walmart’s minimum wage is also $12, but it frequently touts an “average hourly wage” of $16.40.

Meanwhile, the federal minimum wage is frozen at $7.25. It hasn’t budged since July 2009. According to the Department of Labor, 30 states and Washington, D.C. currently have minimum wages higher than the federal rate.

No state has fully implemented a $15 minimum wage. California will become the first to do so on Jan. 1, and several other states have plans to incrementally reach $15 in upcoming years.

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