May 19, 2016
Overtime Regulation Results In Average Weekly Pay Increase Of Only $5.48, New AAF Research Finds
The American Action Forum (@AAF) today released an analysis of the Department of Labor’s overtime pay regulation that was finalized yesterday. The AAF analysis finds that very few workers would benefit while it would impose substantial regulatory costs. Only 825,000 of the 4.2 million newly covered workers would regularly benefit from the rule. The AAF analysis also found that the net average weekly pay increase would only be $5.48 for all newly covered workers and $19.97 for those who regularly work overtime.
To implement the new regulation, businesses will face nearly $3 billion in compliance costs and over 2.5 million in paperwork burden hours.
Click here to read the research.