On 9 July 2021, President Biden issued an executive order (EO)1 tasking the Treasury Department, in combination with the Department of Justice (DOJ), the Department of Labor (DOL), and the Federal Trade Commission, with “promoting competition” in the United States labor market. In response, the Department of Treasury recently issued a report titled The State of the Labor Market (Treasury Report) on 7 March 2022. Employers should take note that the EO and the Treasury Report reflect a meaningful shift in the legal landscape for post-employment noncompetition agreements. This alert provides an analysis of the Treasury Report.
In addition, please join the K&L Gates Global Employer Solutions webinar on 30 March 2022. The webinar will cover the latest developments regarding noncompetition agreements, including the Treasury Report, and strategies to retain key employees in the United States, the United Kingdom and Australia.2
In addition to providing a primer on labor economics, the Treasury Report analyzes the current labor market landscape and leverages decades’ worth of economic research to identify employment practices that are believed to be restraining competition. The Treasury Report concludes with proposed legislation designed to promote competition, prevent antitrust activity, and increase employee bargaining power.
Three days after the Treasury Report was released, the Antitrust Division of the DOJ and DOL issued a Memorandum of Understanding...
INDIANAPOLIS — Marion County Clerk Kate Sweeney Bell announced that county election officials are pushing back against viral social media posts falsely claiming that ballots marked by poll workers...