The Truthful Labor Requirements Act (FLSA) units a minimal wage and time beyond regulation pay necessities for workers in america. The FLSA additionally features a wage threshold that determines which staff are exempt from time beyond regulation pay. In 2023, the wage threshold is $684 per week, or $35,568 per 12 months. The wage threshold is adjusted each few years to maintain tempo with inflation. The following adjustment is scheduled to happen in 2025.
The FLSA wage threshold is vital as a result of it determines which staff are eligible for time beyond regulation pay. Workers who’re paid beneath the wage threshold are entitled to time beyond regulation pay in the event that they work greater than 40 hours in per week. Workers who’re paid above the wage threshold will not be eligible for time beyond regulation pay, no matter what number of hours they work.
