The Federal Trade Commission (FTC) has issued a rule that would bar enforcement of most noncompetition covenants nationwide. The rule is scheduled to go into effect September 4, 2024. Published in April of this year, the rule sounded like the death knell for noncompetes.
Effective July 1, 2024, new salary thresholds will go into effect that will impact eligibility for exemptions from overtime. Affecting the exemptions for executive, administrative, and professional employees, the salary threshold will be raised to $844 per week (annualized $43,888). Respectively, those thresholds are now $684 per week, $35,568 per year.
Yikes, we are all going to be replaced by robots! Many experts say it’s so. Kurt Vonnegut even predicted it back in 1952 in his novel Player Piano. The prognostications are even dire for the medical and legal professions as artificial intelligence is used more and more to absorb and analyze massive amounts of data.