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August 20, 2024 at 7:44 PM A federal judge in Texas has blocked a new rule from the Federal Trade Commission that would have made it easier for employees to quit a job and work for a competitor.
A 2023 petition to the FTC to ban non-compete agreements estimated that about 30 million workers (about 20% of all U.S. workers) were subject to a noncompete clause. [3] While higher-wage workers are comparatively more likely to be covered by non-compete clauses, non-competes covered 14 percent of workers without college degrees in 2018. [4]
(Reuters) -A federal judge in Texas on Tuesday barred a U.S. Federal Trade Commission rule from taking effect that would ban agreements commonly signed by workers not to join their employers ...
The U.S. Federal Trade Commission has proposed a rule that would ban companies from entering or attempting to enter a non-compete agreement with a worker. The rule banning non-compete clauses in...
[18] [19] On August 20, 2024, a federal court in Texas overturned the FTC's ban on non-compete agreements, which was originally scheduled to take effect on September 4, 2024. [20] U.S. District Judge Ada Brown said the FTC did not have the authority to issue the ban, which she said was "unreasonably overbroad without a reasonable explanation."
Research shows that non-compete agreements make labor markets less competitive, reduce wages and reduce labor mobility. [3] [1] While non-compete agreements may incentivize company investment into their workers and research, they may also reduce innovation and productivity by employees who may be forced to leave a sector when they leave a firm.
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