MIllions Of Workers Will Qualify For Overtime Starting July 1, 2024, And Millions More On January 1, 2025

President Joe Biden’s Department of Labor has released a rule that will increase the amount of salary a worker can earn and be eligible for overtime pay. Currently, if you earn more than $35,568 (less than $3,000 per month) as a salaried worker, you are not eligible for overtime pay. As of July 1, 2024, that number will be $43,888, and, as of January 1, 2025, the salary threshold below which you are entitled to overtime after 40 hours of work in a week will be $58,656. After that, starting January 1, 2027, the rate will be adjusted every 3 years. This new rule is expected to affect approximately 4 million workers.

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