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Department of Labor has been thwarted in its attempt to expand the overtime rule after accusations of exceeding its authority. For now, the 35k overtime salary threshold remains as it was before the DOL attempted to increase it to $43k. Image: Freepik What Is the Overtime Rule under the FLSA?
The world of business and working are the foundation of the microcosm of workers' compensation. At its root, workers' comp is one of many adjuncts of the complex relationship between production and labor in what used to be a free market society. The law will be annually adjusted starting in 2027 to account for the impacts of inflation.
As 2024 unfolds, employers across various industries are grappling with new overtime regulations that significantly impact their operations and labor costs. These changes are part of a broader effort to modernize labor laws and ensure fair compensation for workers. Here are the key changes: 1.
To understand who qualifies as exempt, we first need to understand what an exempt worker is. When we say exempt it means that these employees are exempt from being considered under the minimum wage and overtime pay regulations. The threshold will be adjusted every three years after the next update on July 1, 2027.
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