Upgrade FLSA: legislation vs free market in employment

The Department of Labor is upgrading the minimum salary for exempt employees from $684 per week ($35,568 per year) to $844 per week ($43,888 per year) as of July 1, 2024, and then to $1,128 per week ($58,656 per year) as of January 1, 2025.

The idea is that this minimum salary should be tied to the economic reality. And that makes at least a little sense.

But, let’s face it, the FLSA makes little sense in 2024. Congress first passed this law in 1938, and they have amended it from time to time, but it remains substantially the same. In a nutshell, it divides employees into two classes: exempt and non-exempt. The non-exempt are paid by the hour and can receive overtime pay, and the exempt receive a salary.

Both groups have minimum salaries, and the law enshrined the 40-hour workweek into law.

And so, what’s wrong with that in 2024? Just about everything, and this latest law change is an example of this.

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One thought on “Upgrade FLSA: legislation vs free market in employment

  1. I applaud you for taking the pro-freedom position of upholding freedom of contract in labor relations.

    But I suggest you go a bit farther, and extend this to discrimination situations. Because all parties deserve to be treated as adults who know what’s good for themselves — and the current “ESG machine” has flooded the system with so many phony grievances that practically all of them are now phony.

    Let employers hire and fire whom they like, and I believe pretty much all of them will make their decisions based on the content of people’s character. As they should and as they already do, even if some immature people are unwilling to admit it.

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