U.S. Hiring Trends: Q3 2016
In May, the Department of Labor announced that it would raise the salary threshold set by the Fair Labor Standards Act (FLSA) for which workers are eligible to receive overtime pay—more than doubling it from $455 a week ($23,660 a year) to $913 a week ($47,476 a year). Workers with salaries at that level or above would be exempt from the rule and therefore ineligible for overtime pay. This rule would go into effect on December 1 and would automatically update the salary threshold every three years, based on wage growth over time.