Economic Report: How Will Changes to Overtime Pay Law Affect the Economy?
In this week’s Economic Report on WUWF 88.1-FM, Dr. Rick Harper, vice president of research and economic opportunity at the University of West Florida, discusses recent changes to federal rules governing overtime pay.
Under the new rules, employees will see more money in their paycheck. But, there is also concern employers might struggle as they try to find ways to deal with the cumulative effects of the long-overdue changes.
“That’s what happens when you let the adjustments pile up over time,” Harper said. “Certainly, if the federal government is going to get into labor markets in this way and mandate when overtime gets paid, the adjustments need to be more frequent so that it’s not a couple of decades and businesses and workers get slammed with a doubling of the threshold level.”
To read the complete report, click here.