The Labor Department announced Tuesday that it completed one of the most ambitious economic reforms of the Obama era, finalizing a new rule that will extend overtime protections to millions of additional workers.Various thieving employers have used forced overtime with no compensation for years as another tool in the screw-you box to keep from hiring additional workers. If these rules actually get enforced, then employers will probably hire more low-cost entry level workers rather than pay the real value of overtime. Of course, the downside is they will probably be demanding to import those workers from the Third World.
The administration will accomplish that by raising what’s known as the overtime salary threshold. Nearly all workers earning salaries beneath that threshold are entitled to time-and-a-half pay whenever they work more than 40 hours in a week.
The current threshold is just $23,660. The White House will be doubling that number, to $47,476, guaranteeing overtime rights for salaried workers earning less than that. The Labor Department will now update the threshold every three years to make sure it keeps pace with inflation...
Wednesday, May 18, 2016
Obama Is Bringing Overtime Pay To Millions Of Workers: