F.T.C. Issues Ban on Worker Noncompete Clauses
F.T.C. Issues Ban on Worker Noncompete Clauses
www.nytimes.com
F.T.C. Issues Ban on Worker Noncompete Clauses
The slaveowner class are losing their minds. đź–• US Chamber of Commerce
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🤖 I'm a bot that provides automatic summaries for articles: ::: spoiler Click here to see the summary The Federal Trade Commission on Tuesday banned employers from limiting their workers’ abilities to work for rivals, a sweeping change that the agency says could help raise wages and increase competition among businesses.
The move bars contracts known as noncompetes, which prevent workers from leaving for a competitor for a certain amount of time, in most circumstances.
The agency has said the proposal would raise wages by forcing companies to compete harder for talent.
“The F.T.C.’s final rule to ban noncompetes will ensure Americans have the freedom to pursue a new job, start a new business or bring a new idea to market,” the trade commission’s chair, Lina M. Khan, said in a statement.
Studies have shown that noncompetes suppress wages because switching jobs is the most efficient way workers can increase how much they make.
“This would be an immediate shock that would allow millions of workers to be free to take a better job in their industry,” said Evan Starr, an economics professor at the University of Maryland.
Saved 48% of original text. :::
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I expect it to get overturned by SCOTUS in 3... 2...
6 comments
I expect it to get overturned by SCOTUS in 3... 2...
I'm not so sure. Nobody is claiming the Bible ordains noncompetes, so we might be in the clear here.
Have you heard the good news about supply-side Jesus? Even though this exact rule explicitly benefitted massive companies in California for decades, the fact that it also benefits labor even a little means the capitalist class will react very badly.