19 May New Obama Overtime Rules Draw Ire From Industry Groups
President Barack Obama and the United States Department of Labor finalized a new overtime rule today that aims to raise the wages for millions of U.S. workers. But the new law is already under fire by retail and footwear industry groups.
Starting Dec. 1, the Department of Labor’s overtime threshold for salaried workers will be raised from the 2004 wage of $23,660 to $47,476, meaning an estimated 4.2 million more workers will be eligible for overtime pay. The new rules target white-collar salaried employees, who often work more than 40 hours a week and go uncompensated for their hours. The new rate is for the first time also tied to inflation and will be adjusted every three years.