Ryan McDevitt is an economics professor at the Fuqua School of Business at Duke University.

A new rule from the Department of Labor makes more than 4 million workers eligible for overtime pay for the first time, effective December 1. How does it work? Salaried workers who earn $47,476 or less a year— up from $23,660—and who work more than 40 hours a week must be paid overtime. People working 60-hour weeks will either be compensated for those hours or see a cutback in hours.