Every week, millions of Americans work more than 40 hours a week but do not receive the overtime pay they have earned. Effective December 1, 2016, the Department of Labor's new rule updates overtime protections for workers.

In total, the new rule is expected to extend overtime protections to 4.2 million more Americans who are not currently eligible under federal law, and it is expected to boost wages for workers by $12 billion over the next 10 years.