Costco to raise minimum wage to $14 for all workers

(Rich Brooks/CNN)

MIAMI – Costco employees will have more money in their paychecks as the company announced it will raise the minimum wage to all hourly employees.

Starting June 11, Costco's 130,000 hourly workers will earn at least $14 an hour, almost doubling the current federal minimum wage of $7.25.

KABC reports Costco's previous minimum wage was at most $13.50, depending on store locations.