Partnership to Protect Workplace Opportunity has put together a website that contains pertinent information regarding minimum wages, including the new minimum salary threshold that goes into effect on December 1, 2016. From their website, we found these Quick Facts, and you can review them as well at TIME FOR THE FACTS.
Some Quick Facts the Department of Labor is proposing is:
Fact #1: DOL has set the new minimum salary threshold at $47,476 per year. This is 100% increase in the salary threshold for overtime eligibility that will take place all at once on December 1, 2016.
Fact #2: Forty-five percent of those surveyed by NRF believe a change in employment status from salaried to hourly would make them feel they're working a job rather than pursuing a career; 86% believe their perceptions of themselves as managers would deteriorate in some way
Fact #3: The threshold will automatically update every three years. Each update will raise the standard threshold to the 40th percentile of full-time salaried workers in the lowest-wage Census region, estimated to be $51,168 in 2020. DOL will post new salary levels 150 days in advance of their effective date, beginning August 1, 2019.
Fact #4: Of the people surveyed by WomanTrend, 63% agree a "one-size-fits-all" approach to overtime rules is inappropriate for the different industries and various regions of the country. DOL did not take into consideration the vast economic differences across the nation of their final rule.
Fact #5: Legislation has been proposed to require DOL to examine the impact on stakeholders, including the public sector, before implementing any changes to the exemptions (Protecting Workplace Advancement and Opportunity Act, H.R. 4773 & S. 2707). We expect the employer community will redouble its efforts in support of this legislation and other solutions.
These changes will definitely effect many of our local businesses, and as your Chamber, we are constantly trying to find issues that will directly impact our community, and raise awareness. If you have any further questions, please don't hesitate to contact us at 308-284-4066 and we will do our best to aid you.