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University of Tennessee, Knoxville

New rule would make millions more eligible for overtime pay

New rule would make millions more eligible for overtime pay

The Obama administration will unveil a new rule Wednesday that would make millions of middle-income workers eligible for overtime pay, a move that delivers a long-sought victory for labor groups.

The regulations, which were last updated more than a decade ago, would let full-time salaried employees earn overtime if they make up to $47,476 a year, more than double the current threshold of $23,660 a year.

The Labor Department estimates that the rule would boost the incomes of 4.2 million additional workers.

The move caps a long-running effort by the Obama administration to aid low- and middle-income workers whose paychecks have not budged much in the past few decades, even...

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