NEW YORK, NEW YORK - NOVEMBER 24: People shop for groceries ahead of Thanksgiving at Costco Wholesale in East Harlem on November 24, 2020 in New York City. (Photo by Noam Galai/Getty Images)JACKSONVILLE, Fla. – Costco Wholesale is raising the minimum wage for its hourly staff to $16 from next week, according to reports. This announcement comes a week after Walmart raised its hourly wage to an average of $15. RELATED | Walmart raising wages for 425,000 workersThe increase announcement puts its starting wages above Target’s and Amazon’s. President Joe Biden plans to raise the minimum wage to $15 per hour by 2025.