Buckle Up: Employers Face Major Changes with New Overtime Pay Requirements
The US Department of Labor (DOL) recently released its final rule, updating the Fair Labor Standards Act (FLSA)’s overtime pay requirements. The rule increases the minimum salary threshold to US$43,888 on July 1, 2024, and then to $58,656 on January 1, 2025. This significant change will profoundly impact both business owners and employees. The new ...