A new rule was announced by the White House Tuesday, May 17, 2016 (under President Obama’s direction)- any employee making a salary of less than $47,476 will automatically qualify for overtime pay (when working more than 40hrs wk). This will almost double the current $23,660 threshold. It is expected that over 4.2 million Americans, will qualify for this boost in their wages. This ruling will go into effect on December 1, 2016.
To get further clarification, let’s take a look at the following information taken from The United States Department of Labor’s website:
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