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FTC Bans Noncompete Agreements, Could Impact Millions of Workers

  • #Income
  • #Labor
  • #United States of America
FTC Bans Noncompete Agreements, Could Impact Millions of Workers
story
APR 2024
Image copyright: Chip Somodevilla/Staff/Getty Images News via Getty Images
story last updated APR 2024

The Spin

Narrative A

Noncompete contracts rarely protect company secrets. In fact, their primary function is to shackle employees to their existing companies by forcing them to switch careers or move far away to find a new job if they seek to leave — something most people can't afford to do. By prohibiting employees from starting their own businesses, these contracts also weaken competition. If we want employees and entrepreneurs to thrive, these agreements should be banned at all levels of business.

NYSenate.gov

Narrative B

Despite what these anti-business government officials claim, noncompete clauses actually promote competition and help, not hinder, employees. This is also an egregious, unconstitutional power grab by three unelected regulators who think they can decide what is and isn't a competitive market. The FTC has never been granted such overarching authority, which is why actual American business leaders will fight this in court.

Uschamber

Metaculus Prediction


Articles on this story

FTC bans noncompete agreements, making it easier for workers to quit. Here's what to know.
CBSAPR 2024
After 26,000 public comments, FTC to vote on rule banning noncompete agreements
NPR Online NewsAPR 2024