Millions more workers could soon be making more money thanks to overtime changes the Obama administration announced today.
Starting December 1, the regulations being issued by the Labor Department would double the threshold under which salaried workers must be paid overtime, from to $47,476 from $23,660.
This rule is part of the patchwork of changes on the national, state, and even municipal level to raise wages for workers that have small businesses and large corporations figuring out how to balance the books, by either cutting workers or raising prices.
Notably, burger chain Wendy’s announced last week that they would make self-serve kiosks available to over 6,000 franchise owners, allowing them to cut staff.
With files from AP
Tamara Draut, Vice President of Policy at Demos - a public policy organization focused on equity; Author of the brand new book, “Sleeping Giant: How the New Working Class Will Transform America” (Doubleday; April 2016)
Diana Furchtgott-Roth, Senior fellow at the Manhattan Institute, a think tank focused on free-market principles; she’s also former chief economist of the US Department of Labor and served under Presidents George W. Bush, George H.W. Bush and Ronald Reagan