U.S. Department of Labor expands overtime pay
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U.S. Department of Labor expands overtime pay

The salary threshold for overtime pay has been increased from $23,700 to $35,500.

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The Labor Department announced Tuesday that it had finalized a rule expanding overtime pay eligibility to up to 1.3 million workers.

Under the new rule, most salaried workers who earn less than about $35,500 per year will be eligible for time-and-a-half overtime pay, up from the current threshold of about $23,700.

The rule is scheduled to take effect on Jan. 1.

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