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Overtime regulations: Obama plan looks good but won't raise wages

President Obama has pitched his new overtime regulations as a way to raise wages. However, even economists who support the change admit that’s unlikely to happen. Instead, they expect employers to cut workers’ pay by an offsetting amount.

So how will this new overtime rule affect the economy? Primarily by forcing salaried workers to log their hours. That’s right — more work, same pay.

Under federal law, all employees paid hourly rates get overtime — 1.5 times their regular wages — for working more than 40 hours a week. The law exempts some salaried employees.

http://www.startribune.com/overtime-regulations-obama-plan-looks-good-but-won-t-raise-wages/313410151/

 

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