The Obama administration strikes again:
Previously, workers earning $23,660 annually were eligible for time-and-a-half for every hour they worked beyond 40 hours. The DOL has doubled that threshold to $47,476. According to the Obama Administration, 5 million more workers must now be paid overtime as a result.
According to the Obama administration (and Democratics in general), people are just too stupid to be able to make decisions without government "help". A lot of restaurant managers were fine with starting at $40,000; if they put in some overtime, they just took time off later. The Obama administration says that's a no-no, because they know better than people who actually work for a living.
“Entry-level management positions are going to disappear and those employees will fall back into hourly jobs,” said NFIB President and CEO Juanita Duggan. “Small businesses everywhere will be affected, but most of the damage will occur in places where the cost of living and the wage scale is much lower than it is in Washington, DC, or Manhattan, or San Francisco.”