The U.S. Department of Labor last week issued its final rule on the minimum salary threshold at which employees are required to receive overtime pay, a move immediately blasted by several business groups.
Under the most controversial portion of the decision, salaried executive, administrative and professional workers earning less than $47,476 must be paid time-and-a-half for overtime work past 40 hours in a week. The previous threshold for this regulation was $23,660. The salary threshold will be automatically increased every three years to reflect wage growth over time.
The move is expected to cover an additional 4.2 million workers in the Fair Labor Standards Act overtime regulations.
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