U.S. employers are watching the clock.
With federal rules expanding paid overtime eligibility set to take effect next month, business leaders are making moves to contain future costs, according to a New York Federal Reserve Bank survey.
The new regulation, finalized in May by the Labor Department and scheduled to come into force on Dec. 1, requires employers to pay time-and-a-half to salaried employees earning up to nearly $47,500 annually — about double the current threshold of almost $24,000 — after they work more than 40 hours per week.
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