Which workers would gain the most under Obama's new overtime proposal? - PRI
The answer is good news for some real estate managers, tax preparers and managers of places like Dunkin Donuts. Under the plan, Obama would increase the threshold under which salaried workers receive overtime pay from $23,660 to $50,440. He claimed that the new rule, if implemented in 2016, would extend overtime payment to nearly 5 million workers. Back then it covered 62 percent of salaried workers, but in 2014 the number has declined to just 8 percent, according to an analysis published last Friday by the Economic Policy Institute, a think tank based in Washington DC. The analysis stated... It turned out that workers in the management, business and financial operations category who are currently earning below $50,440, or $970 but do not qualify for overtime pay would be the biggest winner as they have to endure longer work hours. These occupations are financial specialists, logisticians, purchasing agents (except wholesale, retail and farm products), real estate managers, tax preparers, wholesale and retail buyers (except farm products), agricultural managers, food service... Source: www.pri.org
