The Biden administration has finalized a new rule set to make millions of more salaried workers eligible for overtime pay in the U.S.
A hiring sign is displayed in Riverwoods, Ill., Tuesday, April 16, 2024. The move marks the largest …NEW YORK —
Under the federal law, nearly all hourly workers in the U.S. are entitled to overtime pay after 40 hours a week. But many salaried workers are exempt from that requirement - unless they earn below a certain level. The July 1 increases update the current salary thresholds using methodology put in place under the Trump administration’s 2019 regulation. The new rule’s methodology takes effect Jan. 1, the Labor Department said, with salary thresholds set to update every three years based on the latest wage data.
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