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Exempt Employee
An employee who is not entitled to overtime pay as per labor laws, typically salaried and meeting certain criteria regarding their job duties and salary.
Overtime Pay
Additional compensation awarded to eligible employees for hours worked beyond the standard workweek, as defined by labor laws.
Pay Structure
An organized system of compensating employees that defines the different levels of pay for jobs or groups of jobs within an organization.
Economic Forces
Factors that affect the behavior of consumers, businesses, and governments in the economy, such as inflation, employment rates, and GDP growth.
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