Why Millions of Americans Are Getting a Raise Very Soon
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Update 11/22/2016: On Wednesday, U.S. District Judge Amos Mazzant ruled that the new federal overtime laws are unlawful and granted an injunction, according to Reuters. The changes were scheduled to go into effect on Dec.1.
A big change is coming for millions of American salaried workers next month, and it could mean more money in your pocket.
New wage and overtime changes announced by President Barack Obama's administration back in May will go into effect on Dec. 1.
Salaried employees who make at least $47,476 will now be eligible for overtime. The minimum was previously $23,660, according to the White House.
What does this really mean?
ATTN:'s very own human resources professional, Head of People Operations Katherine Starros, told us that if you're a salaried employee who makes less than $47,476 a year, your company has one of two options.
1. Your employer has to divide your salary into hourly wages and start paying you overtime for longer hours.
or
2. Your company has to start paying you a salary of at least $47,476 a year to avoid the overtime option.
You're either getting a raise or maybe working less. Woohoo!
Whom does this benefit?
The White House estimated in May that the new overtime rules will affect more than 4 million American workers.
Workers in the South will be affected more than those in other regions of the country, and nearly a quarter of the affected workers are employed in California, Texas and Florida, Business Insider reported in May.
The changes are also more likely to affect women than men, Americans between the ages of 25 to 34, and workers with at least a bachelor's degree, Business Insider said.
