U.S. Department of Labor Issues Proposed Regulations That Would Significantly Raise Minimum Salary For Workers Paid On A Salary Basis
On August 30, 2023, the U.S. Department of Labor issued proposed regulations that could significantly increase the minimum salary that would have to be paid to workers on a salary basis. The increase would be from $684/week to $1,059/week, or about $55,000.00 annually. The Department of Labor had been considering making an increase for over…