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7/1/2024

New U.S. Overtime Rules

Ellen C. Wells

New rules impacting overtime eligibility begin July 1. On that date, employers will be required to pay overtime to salaried workers who make less than $43,888 a year in certain executive, administrative and professional roles. The current overtime eligibility threshold is $35,568. The Labor Department estimates that about 4 million salaried workers who are exempt from overtime currently will become eligible after July 1. This cap rises to $58,656 at the beginning of 2025 and will be updated every three years based on the latest wage data.

“Too often, lower-paid salaried workers are doing the same job as their hourly counterparts, but are spending more time away from their families for no
additional pay,” said acting Secretary of Labor Julie Su in a prepared statement. “That is unacceptable.”

Critics say the new rule could burden companies with new costs, as well as make the current labor challenges even more challenging.

Keep these new overtime rules in mind as you flesh out your staffing needs this year and next. For more, visit dol.gov/agencies/whd/overtime/rulemaking. GP

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