Target to lift minimum wage to $9 an hour

Target Corp next month will raise the minimum wage for all of its workers to $9 an hour, matching moves made by rivals including Wal-Mart Stores Inc and TJX Cos, a source familiar with the matter said. The move comes in the face of pressure from labor groups and allies calling for a "living wage" at retailers and fast-food companies across the country, as well as increased competition for labor with the unemployment rate at its lowest in more than six years. The clearest sign of the changing labor landscape came last month when Wal-Mart, the largest private employer in the United States, said it would move to the $9 minimum in April with a further bump to $10 next year. A week after Wal-Mart's announcement, T.J. Maxx and Marshalls owner TJX said it would match the $9 minimum in June.