Dec 19, 2019

1.3 million more workers will be eligible for overtime pay in 2020

Illustration: Eniola Odetunde/Axios

More workers will be eligible for overtime pay when a federal law kicks in on Jan. 1.

Why it matters: The law will give a raise to some 1.3 million employees when they work more than 40 hours a week. That's short of the 4 million who would have gotten overtime pay had a more aggressive Obama-era law gone into effect.

What's new: Employees who make less than $684 per week (or $35,568 per year) are now mandated to get paid for overtime, with the exception of managers and professionals like lawyers or accountants. That maximum is up from $455 per week (or $23,660 per year), which was the threshold set in 2004.

  • Workers in states like California and New York won't be affected since laws there mandate overtime for workers who make even more than the new federal maximum.

Go deeper:

Go deeper

Wages for typical workers are rising at their fastest rate in a decade

Construction workers holding a rally in the Bronx. Photo: Erik McGregor/LightRocket via Getty Images

Wages for nonsupervisory employees — who make up 82% of the workforce — are rising at the fastest rate in more than a decade, the Wall Street Journal reports.

Why it matters: It indicates that the benefits of a tightening labor market and a time of historically low unemployment rates are finally being passed along to most workers.

Go deeperArrowDec 27, 2019

An unsettling future for millions of American jobs

Illustration: Aïda Amer/Axios

The U.S. economy is besting expectations for job growth, and the unemployment rate is at its lowest in several decades — but the other side of the story is that millions of jobs out there just aren't good enough.

Why it matters: Almost half of all American workers are stuck in low-wage jobs that often don't pay enough to support their lives, lack benefits and sit squarely inside the automation bullseye.

Unemployment fell to 50-year low in 2019 but wages stagnated

Data: U.S. Bureau of Labor Statistics; Chart: Axios Visuals

Friday's jobs report missed expectations, but still delivered solid numbers, showing the U.S. economy added well over 100,000 jobs and the unemployment rate remained near a 50-year low.

The big picture: BLS reported that the number of people who were employed part time but would rather be full-time employees declined by 507,000 over the year.