WEEKLY ADDRESS: Expanding Overtime Pay
WASHINGTON, DC — In this week's address, President Obama discussed one of the single most important steps to help grow middle-class wages – expanding the number of workers who are eligible for the overtime that they have earned. Every week, millions of Americans work more than 40 hours but do not receive the overtime pay they deserve. This week, the Department of Labor finalized a rule to extend overtime protections to 4.2 million more Americans, which will boost wages for working Americans by $12 billion over the next 10 years. This action will not only mean a better life for more American families, but will also strengthen our economy across the board. The President emphasized that he will continue to build an economy where everyone gets a fair shot to get ahead.
Remarks of President Barack Obama as Delivered
The White House
May 21, 2016
Hi everybody. Last summer, I got a letter from a woman named Elizabeth Paredes from Tucson, Arizona. Elizabeth is the mom of a 3-year-old boy, and an assistant manager at a sandwich shop. She earns about $2,000 a month, and she routinely works some 50 hours a week, sometimes even more. But because of outdated overtime regulations, she doesn’t have to be paid a dime of overtime.
She wrote: “It’s not easy work and requires a lot of time away from my son… at times I find [it's] not worth it.”
Things like the 40-hour workweek and overtime are two of the most basic pillars of a middle class life. But for all the changes we’ve seen in our economy, our overtime rules have only been updated once since the 1970s. Just once. In fact, forty years ago, more than 60 percent of workers were eligible for overtime b