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The Federal Trade Commission (FTC) has issued a new rule prohibiting non-compete agreements, freeing employees to change jobs or start new businesses without restrictions. This landmark decision is expected to foster job mobility, enhance innovation, and potentially increase wages across various industries.
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The Federal Trade Commission (FTC) has implemented a rule that bans non-compete agreements across the United States. This rule aims to enhance job mobility and boost economic dynamism by allowing employees greater freedom to change jobs or start new businesses. The FTC estimates that this change will not only lead to the creation of thousands of new businesses annually but will also significantly increase workers' earnings. The rule exempts certain senior executives and involves strict enforcement measures, including notifying employees about the non-enforcement of existing non-competes.
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