The FTC estimates that the proposed rule could increase wages by nearly $300 billion a year.
Lina Khan, commissioner of the Federal Trade Commission at a hearing in Washington, D.C., in 2021.
The Federal Trade Commission on Thursday proposed banning employers from requiring employees to sign noncompete agreements, which prevent workers from taking positions at competitors for a period of time after they leave a job.This would be a big change in the business world, where the agreements are widely used. The FTC estimates that
eople, or one in five workers, would be impacted, and the rule could increase wages by nearly $300 billion a year.after the Biden administration issued an order directing the agency to curb the use of noncompetes in order to increase competition across the economy.Noncompetes were once used mainly to keep high-paid executives from jumping ship to rivals and taking their insider knowledge with them. But they have become more common, with even low-wage workers subject to these restrictions.
But perhaps it was the noncompetes that workers at sandwich maker Jimmy John's were forced to sign that first brought a wave of attention to the issue back in
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