US to double overtime payment

Views: 27

Washington, May 19 (IANS) The US Labour Department has agreed to increase overtime rates for workers amid a continuing shrinking of the middle class.

The rule will increase protection of over 4.2 million workers by doubling the payment threshold for working over 40 hours a week from $455 per week to $913 dollars, Xinhua news agency reported.

The threshold will be automatically improved every three years from January 1, 2020, according to the rule which will come into effect on December 1 this year.

The move is expected to boost wages for workers by $12 billion over the next 10 years, said the White House, adding that overtime protections in the US had eroded as a result of inflation and lobbyists’ efforts to weaken them over the past 40 years.

ALSO READ:   Odisha's revenue collection grows 22%

The US middle class has been losing ground. The share of middle class to the whole US population fell from 55 percent in 2000 to 51 percent in 2014, said a survey by Pew Research Centre.



Comments: 0

Your email address will not be published. Required fields are marked with *