Fair Labor Standards Act (FLSA)
Definition - What does Fair Labor Standards Act (FLSA) mean?
The Fair Labor Standards Act (FLSA) is a federal statute of the United States that was enacted in 1938. Among other things, the FLSA establishes youth employment standards, hourly minimum wage, overtime hourly wage and recordkeeping standards for non-exempt employees in the private sector, as well as those employed by federal, state and local governments.
Justipedia explains Fair Labor Standards Act (FLSA)
As of July 24, 2009, the FLSA mandates a federal minimum wage of no less than $7.25 per hour for non-exempt employees covered by the act.
The FLSA also mandates that the overtime pay for a covered non-exempt employee must be at least one and a half times the regular rate at which the employee is paid. Overtime pay covers any time over 40 hours in a given workweek.
The child labor provisions under the FLSA ensure that minors are not employed in industries where the nature of the job can be detrimental to their well-being.