Home Depot says it will raise wages for workers in the US and Canada

ATLANTA – Home Depot said Tuesday it is investing $1 billion to raise wages for its hourly workers in the US and Canada.

The Atlanta home improvement chain said every hourly worker will receive a pay raise starting this month. Initial pay will be at least $15 per hour in all markets.

Home Depot is one of many major retailers that have raised wages to lure workers into a strong U.S. job market, where unemployment is at its lowest level since 1969. In January, Walmart announced that it would raise its hourly pay to an average of $17.50. while Target invested $300 million in hourly pay raises last year.

The pay rise could also help Home Depot stave off a nascent campaign to unionize its stores, which it opposes. Home Depot workers in Philadelphia filed for a union election last September, saying workers are not benefiting from Home Depot’s strong sales and stores are understaffed. In November, store workers voted against the union.

Home Depot employs 437,000 people in the US and 34,000 people in Canada. The vast majority of them work hourly, the company said. The company operates 2,000 stores in the US and 182 stores in Canada.

“This investment will help us attract and retain the best talent in our portfolio,” Home Depot Chairman, President and CEO Ted Decker wrote in an email to employees. Decker noted that 90% of store executives started off with hourly jobs.

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