Understanding the U.S. Department of Labor’s New Overtime Rule
June 13, 2024
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As a business owner, it’s crucial to stay current and comply with national labor laws. This not only helps you avoid penalties but also ensures a content workforce. Effective July 1, 2024, the standard threshold will increase from $684 per week to $844 per week. There is a second increase to $1,128 per week scheduled for January 1, 2025. Click the link to read the final rule from U.S. Department of Labor (DOL). The threshold will be adjusted periodically for highly compensated employees (HCE). Starting July 1, 2027, salary thresholds will be updated every three years based on up-to-date wage data. The rule will take effect in two phases, and the updates are intended to keep pace with changes in worker salaries and give employers
