Advertisement
UK markets close in 5 hours 45 minutes
  • FTSE 100

    8,147.17
    +0.31 (+0.00%)
     
  • FTSE 250

    20,129.79
    +9.43 (+0.05%)
     
  • AIM

    775.49
    -0.55 (-0.07%)
     
  • GBP/EUR

    1.1826
    -0.0019 (-0.16%)
     
  • GBP/USD

    1.2667
    -0.0019 (-0.15%)
     
  • Bitcoin GBP

    52,125.62
    -213.86 (-0.41%)
     
  • CMC Crypto 200

    1,371.87
    -16.29 (-1.17%)
     
  • S&P 500

    5,431.60
    -2.14 (-0.04%)
     
  • DOW

    38,589.16
    -57.94 (-0.15%)
     
  • CRUDE OIL

    78.53
    +0.08 (+0.10%)
     
  • GOLD FUTURES

    2,335.40
    -13.70 (-0.58%)
     
  • NIKKEI 225

    38,102.44
    -712.12 (-1.83%)
     
  • HANG SENG

    17,936.12
    -5.66 (-0.03%)
     
  • DAX

    18,035.43
    +33.41 (+0.19%)
     
  • CAC 40

    7,515.52
    +12.25 (+0.16%)
     

Biden rule grants overtime pay to 4 million US workers

By Daniel Wiessner

April 23 (Reuters) - The administration of U.S. President Joe Biden on Tuesday unveiled a rule extending mandatory overtime pay to an estimated 4 million salaried workers, going even further than an Obama-era rule that was struck down in court.

The U.S. Department of Labor rule will require employers to pay overtime premiums to workers who earn a salary of less than $1,128 per week, or about $58,600 per year, when they work more than 40 hours in a week.

The current salary threshold of about $35,500 per year was set by the Trump administration in a 2020 rule that worker advocates and many Democrats have said did not go far enough. (Reporting by Daniel Wiessner in Albany, New York; Editing by Aurora Ellis)