The U.S. Chamber of Commerce is suing the FTC over its noncompete agreements ban.
employer noncompete agreements across the economy is not only unlawful but also a blatant power grab that will undermine American businesses’ ability to remain competitive,” charged Chamber President Suzanne P. Clark in a statement.
The courts will weigh in, but it’s possible that, by a vote of 3-2, the FTC has made noncompetes a thing of the past.By and large, the Chamber and many industry trade groups opposed the decision, while progressive groups supported it stoutly. The American Economic Liberties Project issued a news release the day the rule dropped with supportive statements from an even dozen progressive policy organizations.
And some progressive groups seemed a little unsure of what to do about the phaseout of C-suite noncompetes. Declarations like Dempsey’s that “these contracts keep workers trapped at jobs with low wages and poor working conditions” could ring a little hollow when applied to, say, most chief financial officers.
“While it is frequently asserted that noncompetes may impede knowledge spillovers that foster innovation, it is frequently overlooked that noncompetes may encourage firms to invest in cultivating intellectual and human capital,” they explained. “Many restaurant workers have been stuck at their job, earning as low as $2.13 per hour, because of the noncompete clause that they agreed to have in their contract,” charged Teofilo Reyes, chief of staff at the Restaurant Opportunities Centers United.
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