U.S. Department of Labor Scales Back Obama Overtime Rule
The United States Department of Labor (DOL) issued its long-awaited final rulemaking on employee overtime pay this week. The final rule updates earnings thresholds that must be reached to exempt executive, administrative, or professional employees from the Fair Labor Standards Act's minimum wage and overtime pay requirements. The new DOL rule raises the annual earnings threshold that triggers overtime pay (time and a half) for an employee working beyond 40 hours per week from $23,660 to $35,568.
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