The U.S. Department of Labor announced a final ruling on extending mandatory overtime pay. This will increase the salary threshold for employees who work in a job that is currently exempt from overtime pay.
The increases will come in two phases:
1. On July 1 of this year, the minimum weekly salary will increase from $684 a week to $844 a week.
2. On Jan. 1, 2025, that salary level will increase to $1…