McKnight’s Senior Living April 25, 2024
It’s a bit exhausting to keep writing about ways good intentions from our regulatory agencies keep fueling disastrous outcomes.
The latest blow came earlier this week with an announcement from the Labor Department. It unveiled a final rule aimed at broadening overtime protections for salaried workers.
The new overtime rule will see the salary threshold climb from the current $35,568 to $43,888 by July 1 and subsequently to $58,656 Jan. 1. The initial raise follows the department’s existing methodology for determining the threshold, whereas the subsequent increase adopts its new approach, pegging the threshold to the 35th percentile of weekly earnings among full-time salaried workers in the lowest-wage census region.
Not surprisingly, the Labor Department seems to feel pretty good...
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