Walmart is making big plans to invest in its employees.

According to a press release that was released on Tuesday, January 24, 2023, it stated that Walmart will initiate raises next month for at least 3,000 of its employees.

This will now bring the average U.S. associate's hourly salary to around $17.50. Of course, the pay raises will vary by the location of the store. Associates can expect to see the pay increase on their March 2 paychecks.

A company spokesperson tells CNBC that store employees will now make between $14 and $19 an hour, up from the $12 to $18 per hour they currently earn.

Walmart is also expanding its Live Better U Education Program by adding new college degrees and certificates to the program. The Live Better U Education Program helps with tuition costs for both full-time and part-time employees.

And as you continue to focus on your customers, we’re focused on investing in you—our store associates—through higher wages and new opportunities to gain the skills to serve tomorrow’s customers and grow a career with Walmart. No matter where you are in your journey, getting your start here can open doors—the first step into jobs that become careers and build better lives said John Furner, Walmart President, and CEO, in a note sent to all U.S. associates.

This pay raise is not the first time Walmart has raised their associate's pay. Back in 2021, they raised the average hourly wage for associates to more than $15 per hour.

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