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Hobby Lobby bucks economic trend

May 15th, 2009  |  David Stephanides

>Hobby Lobby, a retail chain of more than 400 arts and crafts stores, has increased the wages of full-time hourly employees to a minimum of $10 per hour, more than 52 percent above the national minimum wage of $6.55 per hour. This increase and other pay raises for full-time hourly employees earning up to $13 per hour will raise the pay of more than 6,900 employees, some by up to nearly $600 per month. “Our employees are the backbone of our company, and we believe that giving them the opportunity to share in our success is the right thing to do,” said David Green, CEO and founder. It’s not the first time Hobby Lobby has bucked the trend in trying times: last year the company gave raises to offset cost of living increases when gas prices rose.