Overtime Pay Is Real Again-Truly, Thanks to Pres. Obama
One of the best things for our economy is coming back. Watch your paycheck. Spend a little more time with the family. Fruits of our labors. My employer never took advantage of me like this. But the industry my career lives in needs a healthy middle class. My neighbors, my extended family.
Today marks the official beginning of what may go down as the most underappreciated action of Obama’s presidency: the new overtime rule, which will force more money into the pocket of the middle class.
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Your Pay Is About to Go Up Your Pay Is About to Go Up Your Pay Is About to Go Up
If you make less than $50,000 per year, you will soon be entitled to overtime pay. “Me?” you… Read more Read more
The Department of Labor has officially issued its new overtime rule, which has been the subject of fierce negotiations for years. It goes into effect on December 1. Quite simply, it will raise the threshold for getting overtime pay to $47,456 a year, which means that even if you are a salaried worker, you are entitled to overtime pay if you make less than that amount. (Overtime pay was standard for Americans a generation ago, but the threshold had been allowed to remain at $23,660 for more than a decade, making it out of reach for virtually the entire middle class.) According to the Economic Policy Institute, more than 12 million workers will be newly eligible for overtime as a result of this rule change, including a disproportionate number of black, Latino, and female workers.