How new labor agreements could affect you [Video]

NEW YORK — For millions of American workers, the federal government took two actions this week that could bestow potentially far-reaching benefits.

In one move, the Federal Trade Commission voted to ban noncompete agreements, which bar millions of workers from leaving their employers for a specific period of time. The FTC’s move, which is already being challenged in court, would mean that such employees could apply for jobs they weren’t previously eligible to seek.

In a second move, the Biden administration finalized a rule that will make millions more salaried workers eligible for overtime pay. The rule significantly raises the salary level that workers could earn and still qualify for overtime.

The new rules don’t take effect immediately. And they won’t benefit everyone. So what exactly would these rules mean for America’s workers?

WHAT IS A NONCOMPETE AGREEMENT?

Noncompete agreements, which employers …