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Kiss your OVERTIME goodbye!
June 26 — Up to 8 million U.S. workers could lose their right to overtime pay if Bush administration rules are put in place, according to a new study released Thursday. The new proposed rules would dramatically change who qualifies as a salaried worker, and which hourly wage earners are able to collect overtime.
THE REPORT, by the Economic Policy Institute, highlights dozens of professions that would be impacted by the new rules and argues that hundreds of thousands of workers could be moved from hourly wages to a fixed salary. It would also expand the types of work responsibilities that can be barred from overtime, and would cap a right to overtime for almost anyone earning more than $65,000 a year.
The study’s numbers sharply contrast Labor Department estimates that 1.3 million low-wage workers would qualify for overtime under the new rules, while 640,000 professional workers would lose their potential for overtime.
Some 2.5 million salary earners and 5.5 million hourly employees would lose their overtime, according to the estimates by the group, which is affiliated with labor unions. Some of the most impacted job types would include: mid-level supervisors such as restaurant managers or safety inspectors; professionals such as dietitians, social workers and writers; and technical specialists, such as dental hygienists, drafters or computer programmers. The report’s authors argue the new rules would lead to longer hours for most employees with minimal cost to companies.
“That will have a big impact on their personal family budgets and also on their hours of work,” said EPI vice president and policy director Ross Eisenbray. “It’ll be more profit, but it won’t end up in worker paychecks.”
The proposed regulatory changes, which amount to an overhaul of the federal Fair Labor Standards Act, were first released last March by the Labor Department. A public comment period ends Monday, though no public hearings were scheduled. They could be implemented as soon as this fall and the administration wants them in place by next year. If so, it would be the first major overhaul of the overtime rules in nearly 30 years.
Among those changes would be to raise the baseline salary under which all employees qualify for overtime. Right now, standards still employ a figure from 1975: Anyone earning less than $155 per week automatically qualifies. The new rules would raise that to $425 per week, or about $22,000 a year.
http://www.msnbc.com/news/931238.asp?cp1=1
You may read the rest at the above link. This is going to freakin suck mann. What business is not going to take full advantage of this crap. This is going to cause a lot of headache in the homefront for a lot of people. Along with that..there will be a higher turnover rates for a lot of companies. Whats really jacked is that Colorado has a new law where I person can be terminated from a job with no reason given at all. The more and more I think about it, once I'm done with school. I'm thinking of leaving the country.
June 26 — Up to 8 million U.S. workers could lose their right to overtime pay if Bush administration rules are put in place, according to a new study released Thursday. The new proposed rules would dramatically change who qualifies as a salaried worker, and which hourly wage earners are able to collect overtime.
THE REPORT, by the Economic Policy Institute, highlights dozens of professions that would be impacted by the new rules and argues that hundreds of thousands of workers could be moved from hourly wages to a fixed salary. It would also expand the types of work responsibilities that can be barred from overtime, and would cap a right to overtime for almost anyone earning more than $65,000 a year.
The study’s numbers sharply contrast Labor Department estimates that 1.3 million low-wage workers would qualify for overtime under the new rules, while 640,000 professional workers would lose their potential for overtime.
Some 2.5 million salary earners and 5.5 million hourly employees would lose their overtime, according to the estimates by the group, which is affiliated with labor unions. Some of the most impacted job types would include: mid-level supervisors such as restaurant managers or safety inspectors; professionals such as dietitians, social workers and writers; and technical specialists, such as dental hygienists, drafters or computer programmers. The report’s authors argue the new rules would lead to longer hours for most employees with minimal cost to companies.
“That will have a big impact on their personal family budgets and also on their hours of work,” said EPI vice president and policy director Ross Eisenbray. “It’ll be more profit, but it won’t end up in worker paychecks.”
The proposed regulatory changes, which amount to an overhaul of the federal Fair Labor Standards Act, were first released last March by the Labor Department. A public comment period ends Monday, though no public hearings were scheduled. They could be implemented as soon as this fall and the administration wants them in place by next year. If so, it would be the first major overhaul of the overtime rules in nearly 30 years.
Among those changes would be to raise the baseline salary under which all employees qualify for overtime. Right now, standards still employ a figure from 1975: Anyone earning less than $155 per week automatically qualifies. The new rules would raise that to $425 per week, or about $22,000 a year.
http://www.msnbc.com/news/931238.asp?cp1=1
You may read the rest at the above link. This is going to freakin suck mann. What business is not going to take full advantage of this crap. This is going to cause a lot of headache in the homefront for a lot of people. Along with that..there will be a higher turnover rates for a lot of companies. Whats really jacked is that Colorado has a new law where I person can be terminated from a job with no reason given at all. The more and more I think about it, once I'm done with school. I'm thinking of leaving the country.
