FTC To Vote On Noncompete Ban

The Federal Trade Commission is set to vote Tuesday afternoon on a proposal to ban noncompete agreements, which prevent workers from taking positions at competitors for a period of time after they leave a job. From a report: The ban could be a win for workers -- particularly at the low end of the income scale. Critics of these agreements say they stifle innovation and wage growth by restricting workers' ability to take new jobs that pay higher wages or offer some other opportunity. They also make it tougher for employers to hire strong talent, lessening competition. Some states have laws limiting noncompetes to higher-income folks or banning them altogether -- but most don't. Experts told Axios that the final rule will likely look similar to the draft proposal, which was a broad prohibition on all noncompetes, even for executives. Any final rule is unlikely to take effect for many years -- if ever, as it will surely get tied up in court. The Chamber of Commerce, which opposes the ban, has already said it's ready and willing to file a lawsuit.

Read more of this story at Slashdot.