A new rule introduced by the Department of Labor extends overtime pay coverage to four million additional salaried workers, a move that is expected to transfer $1.5 billion from employers to employees who worked extra hours without compensation, CNN reports.
The rule extends overtime work regulations to salaried workers who make $43,888 annually, or around $840 per week, on July 1st, 2024, and increases the minimum salary range covered to $58,656 annually, or around $1,130 per week. The current level is $35,568 a year, or $684 per week.