Newsday: Local employers weigh consequences of proposed federal overtime rules
President Barack Obama has proposed revisions to overtime rules that would make low-wage managers and professionals eligible for overtime if they are paid less than $970 a week, compared with $656.25 a week in New York now.
Although Obama’s plan would boost the earning power of these salaried workers, it could also make local employers convert more jobs to part time or even hire fewer workers, local executives and experts warned.
The proposal would be the first increase in 11 years for a salary benchmark that under federal labor law is key in determining if a worker earns enough to be exempt from overtime. Click here to read the full article…