Flanked by a cadre of salaried workers, President Obama signed a memo directing his labor secretary to rewrite the rules governing overtime in the country.
"Americans have spent too much time working more and making less," Obama said during comments preceding the signing ceremony.
Obama's proposal would rewrite a commonly used exemption in which a salaried worker designated as "executive, administrative and professional" is denied overtime if he or she is making more than $455 a week.
NPR's Marilyn Geewax reported earlier today:
"As a result, a 'supervisor' could earn as little as $24,000 a year, while working well beyond 40 hours. In some cases, such a worker might put in enough hours to end up getting paid — in effect — less than the minimum wage.
"The administration points out that the $455 level set in 2004 would be worth $553 today, after adjusting for inflation.
"Supporters say an update of that $455 pay level and a rewrite of the exemption rules could have a fairly large stimulative effect by giving workers more money to spend."