(Bloomberg) -- The Obama administration plans to raise the wagesof millions of Americans who work more than 40 hours a week byrequiring employers to pay them overtime.

Workers who earn as much as $970 a week would have to be paidovertime even if they’re classified as a manager or professional,according to a plan outlined by the Department of Labor on Tuesday.The White House said 4.7 million workers nationwide would beaffected within the first year of the rules being put in place.

Many employees now receiving as little as $455 a week, or$23,660 a year -- below the federal poverty line for a family offour -- aren’t entitled to overtime pay because they are classifiedas managers.

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