FTC bans noncompete clauses
Marketplace All-in-One
Marketplace
4.5 • 1.4K Ratings
🗓️ 23 April 2024
⏱️ 1 minutes
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Summary
Stocks rise; FTC says noncompete clauses suppress wages and innovation; business activity expands at a slower pace; new home sales rise.
Transcript
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| 0:00.0 | This is the Marketplace Minute. I'm Justin Ho. Stocks closed higher on Tuesday. The Dow |
| 0:07.0 | gains 7 tenths percent, the S&P rose 1 and 2 tenths percent, and the NASDAQ added one and six tenth percent. |
| 0:14.5 | The Federal Trade Commission is banning non-compete clauses. |
| 0:17.9 | Those are contract terms that prohibit employees from going to work for a competing company. |
| 0:22.4 | The FTC says non-compete clauses prevent workers from taking new jobs |
| 0:26.3 | and starting new businesses, and that suppresses wages and innovation. |
| 0:30.6 | Most existing non-compete clauses won't be enforceable once the rule goes into effect later this year. |
| 0:36.0 | Business activity expanded this month at a slower rate than in March, according to S&P Global. |
| 0:41.0 | That's mostly because new orders fell slightly. |
| 0:44.4 | And new home sales rose almost 9% in March |
| 0:47.1 | from the month before. |
| 0:48.3 | That's according to the Commerce Department. |
| 0:50.1 | Most of the new home sales have been in the south and the west. |
| 0:53.0 | I'm Justin Ho, with the Marketplace Minute. You're going to. |
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