Walmart, the largest private employer in the United States, announced Tuesday that it will be raising its minimum wage from $12 to $14 an hour to attract and retain workers in a tight labor market. This pay raise will affect 3,000 stores, increasing the average pay to $17.50 an hour from $17. The move is part of a larger trend of companies offering higher wages and benefits to attract and retain workers, with other companies likely to follow suit in the coming months.