The regulations, which were last updated more than a decade ago, would let full-time salaried employees earn overtime if they make up to $47,476 a year, more than double the current threshold of $23,660 a year. The Labor Department estimates that the rule would boost the pockets of 4.2 million additional workers.
The move caps a long-running effort by the Obama administration to aid low- and middle-income workers whose paychecks have not budged much in the last few decades, even as the top earners in America have seen their compensation soar. The last update to the rules came in 2004, and Wednesday’s announcement is the third update to the salary threshold for overtime regulations in 40 years.
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9 comments:
Does this help or will this lead to a reduction in hours?
When will they make companies pay cdl drivers over time. I have to work 60 hrs before I get any type of over time
Just change the law to say, anything worked over 8 hours in a single day is overtime. Simple rule, simple wording.
So, if they don't work the full time do they have to pay back any overtime pay?
its all about employment numbers......juggle the books and BAM what you want them to say!
I bet every restaurant owner in sby is screaming right now.
They will find a way to get out of it. My employer makes sure to say that employees who work less than 30 hours are part-time employees but at the same time they have been paying a couple of employees for the whole previous year at 40 hours per week with no benefits because they say they are part-time. The employees don't say anything because they need the job.
245 how many are making over 47k to wait tables?
Yea I heard the whole restaurant crying thing, what a joke, they don't work over 30 hours anyhow, so what is their point? So even if they did make 50K they would not get overtime since they don't work over 30 hours.
Profits are at record highs while wages are at record lows.
Cry me a friggin river all you greedy employers, so tired of your crocodile tears. You aren't fooling anyone.
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