Chamber Discusses New Overtime Rule
Big changes to how businesses pay their employees and handle overtime are on the way.
Today, the Mississippi Gulf Coast Chamber of Commerce held an economic vibe discussion on how local businesses can prepare for that change.
Starting December 1st, the overtime salary threshold will be doubled to slightly over $47,000. Meaning, unlike before, any salaried employees making below that will now qualify for overtime pay, putting more money in the pockets of white collar workers.
Businesses will be forced to raise salaries, cut overtime pay or pay those employees time and a half. David Thomas with Balch and Bingham Law Firm said, “The most important thing for them to do right now is for employers to look at their payroll, look at their duties, look at their budgets and to plan for it like we discussed this morning. There are different things that can be done, not all of them are pleasant, but there are certainly a number of options that they should explore.”
For more information, visit the Department of Labor’s website at dol.gov.