Amazon announced it will be making a $1 billion investment to raise wages and lower the cost of health care for its U.S. fulfillment and transportation workers.

By the numbers:

The company said on Wednesday the average pay would increase to more than $23 an hour and that most tenured employees will see an increase between the $1.10 and $1.90 per hour range.

Full-time employees will see their pay increase by about $1,600 per year on average.

Lower health care costs

Dig deeper:

Amazon also said it would be lowering the cost off its entry health care plan to $5 per week and $5 co-pays starting next year.

This will reduce weekly contributions by 34% and copays by 87% for primary care, mental health and most non-specialist visits for employees using the basic plan.

Walmart also announ

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