By  on June 3, 2014

The retail industry is one of the largest employers of women, with 7.2 million in its ranks. But most of these are retail saleswomen and cashiers, whose hourly wage is $10.58.

The gender pay gap in retail costs women nearly $41 billion annually. Male sales associates earn $14.62 an hour, or $4.04 more than women in the same jobs, according to new report by Demos, a public policy organization. Lost wages to women negatively impact the economy by reducing consumer demand and costing jobs. If these trends continue, by 2022 women will lose $381 billion in cumulative wages, the study said.

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