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White House issues new rules that will extend overtime pay to millions of workers

from New York Daily News

New federal overtime rules will pump $20 million into the pockets of 67,000 New Yorkers, an analysis by City Controller Scott Stringer found. The Obama administration finalized new rules Wednesday hiking the threshold below which employees must get overtime pay to $47,476 — up from $23,660 under current rules. "New York is the hardest working city in the country, but overtime protection hasn’t kept up with the times, even as productivity has skyrocketed," Stringer said. "The new rules announced today by the Department of Labor will strengthen those protections, and make sure that an honest day’s work is rewarded with an honest day’s pay." more

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