On Dec. 1st, 2016, the new Department of Labor’s final rule updating the overtime regulations will take effect.
The rule, signed by President Obama, automatically extends overtime pay protections to over 4 million workers within the first year of implementation.
The Indianapolis Star cited The National Association of Manufacturers Labor and Employment Policy Director, Amanda Wood, as saying the rule change will be noticeably felt in manufacturing, the state’s biggest economic sector, due to the employees that are moved from salaried to hourly jobs to comply with the new rule.
“Things like the 40-hour workweek and overtime are two of the most basic pillars of a middle-class life,” Obama said. “But for all the changes we’ve seen in our economy, our overtime rules have only been updated once since the 1970s.”
Obama’s regulation makes anyone earning up to $47,476 a year, or roughly $913 a week, eligible for overtime pay.
President Obama boasted his rule "extending overtime pay to millions of workers".