Gap hourly wage raised to $10 by 2015
| New York
聽Clothing chain聽Gap聽says it will raise the minimum hourly聽wage聽for its U.S. employees to $10 in 2015.
The San Francisco company said Wednesday that the minimum聽wage聽for workers at all of its brands will be raised to $9 an hour in 2014 and $10 an hour in 2015.聽Gap聽said the increases will affect about 65,000 store employees.
Gap聽Inc.'s stores include聽Gap, Banana Republic and Old Navy.
President Barack Obama applauded the move by聽Gap, noting that in his State of the Union address last month, he had asked businesses to do what they can to raise聽wages. Obama has also signed an executive order raising the minimum聽wage聽for workers covered by new federal contracts to $10.10.
But Obama said only Congress can act raise聽wages聽nationwide, urging the House and Senate to take up a bill that Democrats are pushing.
"It's time to pass that bill and give America a raise," Obama said in a statement.
Gap聽shares fell 4 cents to $42.19 on Wednesday.
