Results for: FTC Ban

The US Federal Trade Commission (FTC) has banned most noncompete agreements nationwide, a significant victory for worker freedom and innovation. The move is expected to create thousands of new businesses, increase wages, and foster greater competition in the job market. Noncompete agreements have disproportionately affected tech and other highly skilled workers, hindering their career advancement and stifling innovation. The FTC’s rule is expected to face legal challenges, but its long-term impact is likely to be transformative for the American workforce.

In a landmark move, the Federal Trade Commission (FTC) has approved a rule banning the use of noncompete agreements by US companies. These agreements, which prohibit employees from joining competing firms for a certain period, have historically been common among high-level executives but have recently spread to lower-earning workers. The FTC estimates that around 30 million people, or 20% of the workforce, are currently subject to these restrictions.