New overtime rule from U.S. Dept of Labor about to massively increase wages for new grads

New overtime rule from U.S. Dept of Labor about to massively increase wages for new grads was originally published on College Recruiter.

Yesterday, the big news in the U.S. labor market was the prohibition of non-competes. Today, the news is even more substantial: four million (!) workers are going to see massive increases to their earnings if their employers continue to require them to work overtime.

A new U.S. Department of Labor rule lifts the salary ceiling for those who qualify for overtime from the $35,500 set in 2020 to $58,656 effective next year. Under the rule, employers must pay an overtime premium to those whose earnings are under the ceiling and who work more than 40 hours a week.

This will have a massive impact on employers of college and university new graduates, as only the highest paid make more than $58,656.

By College Recruiter
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