More overtime eligibility may not have desired effect

otThis week, the President announced new rules dramatically increasing the number of workers eligible for overtime pay. What impact will this have on workers and businesses?

Under current law, employers do not have to pay overtime to salaried employees making in excess of $23,660 per year. The proposed new changes push that number up to $50,440. If the Administration’s numbers are accurate, this could impact up to 5 million US workers. (Read the full article as previously published in the Montgomery Advertiser Sunday July 5th)

The opinions expressed within this report are those of John Norris as of the initial publication of this blog. They are subject to change without notice, and do not necessarily reflect the views of Oakworth Capital Bank, its directors, shareholders, and employees.