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Walmart boosts minimum wage to $11, hands out bonuses up to $1,000 for hourly workers

Walmart is boosting the minimum hourly wage for its U.S. employees to $11 and dishing out bonuses of up to $1,000, crediting President Trump's tax cut for enabling the move. The increase for the nation's largest private employer also comes amid political pressure to bolster minimum wages and comes amid a hot streak for the retailer. The big-box store chain, which has more than 1 million U.S. hourly employees, will reap a windfall from the U.S. corporate tax rate cut from 35% to 21%. The move also comes amid a 17-year low for the U.S. unemployment rate, which has intensified competition for workers. “Today, we are building on investments we’ve been making in associates, in their wages and skills development,” Walmart CEO Doug McMillon ...