- Paul Constant is a writer at Civic Ventures and the cohost of the "Pitchfork Economics" podcast.
- A recent episode explored why overtime pay has stagnated, and how President Biden can fix it.
- Only 15% of salaried workers qualify for overtime, despite working more hours than hourly staffers.
- This is an opinion column. The thoughts expressed are those of the author.
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"Time is money" is more than a cliché — it should serve as a foundation for what work means in America.
From the late 19th century into the 20th century, generations of workers — many of whom were working up to 100 hours a week — fought for a cap on work hours. But since the 40-hour workweek was written into law in 1940, employers have been quietly pulling back employees' personal time.
A 2019 Gallup poll found that 39% of full-time American workers reported working at least 50 hours in an average week. Gallup also reports that salaried Americans work more than their hourly counterparts, averaging 49 hours a week — with few of them qualifying for overtime pay.
In 1975, 62% of the salaried American workforce was earning time-and-a-half if they logged more than 40 hours in a week. But that threshold...
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