Part of a Series
This 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.
For more on this idea, please see:
- New Overtime Rule Could Raise Wages for 4.7 Million Millennial Workers by Sunny Frothingham