Posted on 05/17/2016 2:36:58 PM PDT by BenLurkin
Millions more Americans will qualify for overtime pay under a final Labor Department regulation expected out Wednesday, in what could be President Barack Obama’s last big push to try to shore up workers’ wages.
The rule will increase the annual salary threshold that generally determines who qualifies for overtime pay when they log more than 40 hours a week. It will have a sweeping effect on workers, employers and industries, including large and small retailers, the fast-food industry, universities and nonprofits.
Analysts and industry groups expect the threshold will be doubled to about $47,000 from $23,660—a level last updated in 2004. That means workers who are paid by the hour or earn annual salaries of less than $47,000 would be eligible for overtime pay, while those with salaries of that much or more generally wouldn't.
...
The agency received 270,000 public comments about its proposal, many from employers and industry trade groups who warned the rule would force employers to cut workers’ hours, slow hiring of full-time employees and shift salaried professionals to hourly employees who have to punch a time clock.
“Just because there’s an overtime rule does not mean there’s going to be overtime pay,” said David French, senior vice president of government relations for the National Retail Federation trade group. “By stroke of a pen, DOL is going to be demoting millions of employees in the economy from salary to hourly,” he said.
(Excerpt) Read more at wsj.com ...
Those folks are working over 40 hours a week??????????
I truly fear the next 8 months.
.
Outrage after outrage. Leftist’s agitation.
Givin’ it all away...
Show me again how this automated robotic secretary works.
What’s the price tag?
[Could be cheaper than human help.]
The worst is yet to come, I cannot even imagine what that pervert will do!
Rules are made to be broken.
Cap and trade by executive order?
Who knows. You can be darn sure the wimps in congress will do nothing!
The King issues yet another decree from on high from the Imperial bathhouse.
Fascism.
Ie socialism via govt regulation/rules. When things go good govt takes credit. When things go bad govt blames private business.
Cap and trade by executive order?
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One good thing about Obama’s E.Os., They are temporary, they can all be revoked with one stroke of President Trump’s pen.
As a professional, if I would have been paid for the “overtime” I did in the 90’s, I would definitely be retired by now.
Wait a minute....
Never mind.
I wonder what effect if any this would have on imported labor. That’s how he can get the republicans to go along.
If they make imported labor exempt, well you know.
Desperate moves by a desperate administration.
Nothing that they do will stop the economy and the dollar from crashing.
Perhaps they should quit trying, let the chips fall where they may, and let us rebuild a free republic on their ashes.
Amazing how easy it is to give away the money of others.
Especially when the giver has never had a real job that he (it) is qualified for.
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