Gap Raising Minimum Wage

Following a move by the president, a major retailer says it will raise it's minimum wage.

Clothing chain Gap will raise the hourly pay for U.S. employees to $9 in June 2014 and then to $10 in June 2015.

This comes after the White House raised the minimum wage for federal contract workers to $10.10 an hour.

Gap owns Old Navy, Banana Republic, and Gap apparel chains. The increased pay will benefit about 65,000 employees.

Walmart said it remains "neutral" on the issue.

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