FTC Votes to Ban Nearly All Noncompete Agreements, Impacting Millions of Workers

The Federal Trade Commission has voted to ban nearly all noncompete agreements, citing their detrimental effects on workers’ economic freedom and job mobility. With an estimated 30 million workers in the US affected, the FTC believes abolishing noncompetes could lead to a substantial increase in wages. Despite legal challenges anticipated, the decision marks a significant shift in labor policies and has sparked debates about protecting businesses versus empowering workers.