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Fairer Pay Through Updated Overtime Rules

Seventy percent of 16- to 24-year-olds and 41 percent of 25- to 34-year-olds with full-time salaries in exempt roles earned less than the proposed threshold of $50,440 in 2013

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idea_bulbThis summer, the U.S. Department of Labor proposed a new rule that will give 13.5 million workers, including 4.7 million Millennials, a raise if it becomes a regulation. The new rule, which determines who is covered by the Fair Labor Standards Act, more than doubles the annual salary threshold for guaranteed overtime pay from $23,660 to $50,440. This change would guarantee that workers with salaries below this level earn overtime pay—the equivalent of 1.5 times their hourly wage—whenever they work more than 40 hours per week. The fate of the rule will be decided by the Department of Labor after a comment period ends on September. 4, 2015.

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