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Noncompete clauses are contractual agreements barring an employee from going to work for a competing company for a set period of time.The FTC board voted 3-2 in favor of banning noncompete clauses. These clauses are already banned in certain states, such as California, but this rule will ban them nationally and take effect in four months. The rule will prohibit employers from entering into new noncompete clauses or enforcing preexisting ones, apart from those pertaining to “senior executives.
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 measure, approved by the agency’s Democratic majority on a 3-to-2 vote, marks the first time in more than 50 years that FTC officials have issued a regulation to mandate an economywide change in how companies compete. The commission has historically operated like a law enforcement agency, investigating and suing individual companies...
The FTC, which currently has a Democratic majority under President Joe Biden, voted 3-2 to approve the final noncompete rule. The agency first proposed the ban on noncompete agreements in January 2023, arguing they unfairly limit competition. Noncompete agreements generally prohibit an employee from leaving their current company to work for a competitor and are more commonly used in more...which highlights survey data on where Americans largely agree on various issues. Its goal is to highlight areas of common ground and correct political misperceptions.
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