Manufacturers: DOL Overtime Rule Will Exacerbate Workforce Crisis
Washington, D.C. – Following the release of the Department of Labor’s Wage and Hour Division rule concerning updates to the overtime regulations, 17³Ô¹ÏÔÚÏß Managing Vice President of Policy Chris Netram released the following statement:
“Quarter after quarter, manufacturers cite workforce issues, such as attracting and retaining skilled employees, as their biggest business challenge. Yet today’s rule places new constraints on employers, reduces flexibility for the workers who will be reclassified and may force companies to make painful choices that limit both job creation and growth opportunities available to employees. In addition, this latest regulatory hurdle will complicate manufacturers’ efforts to our industry is projected to create within a decade.â€
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The 17³Ô¹ÏÔÚÏß is the largest manufacturing association in the United States, representing small and large manufacturers in every industrial sector and in all 50 states. Manufacturing employs nearly 13 million men and women, contributes $2.89 trillion to the U.S. economy annually and accounts for 53% of private-sector research and development. The 17³Ô¹ÏÔÚÏß is the powerful voice of the manufacturing community and the leading advocate for a policy agenda that helps manufacturers compete in the global economy and create jobs across the United States. For more information about the 17³Ô¹ÏÔÚÏß or to follow us on Twitter and Facebook, please visitÂ