Federal Register - July 22, 2021
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Source: Federal Register
Federal Register / Vol. 86, No. 138 / Thursday, July 22, 2021 / Proposed Rules
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. the AffectdW
Tabl e 7 Demo2rap h"1cs ofW ork ers w ho Earnm e a2e Rat e RaIll e
Distribution of All Workers
Distribution of Workers with Wages in the Affected Range and Currently Covered
53.3%
46.7%
45.6%
54.4%
77.1%
12.4%
10.5%
74.5%
15.7%
9.8%
18.1%
81.9%
25.7%
74.3%
16.7%
24.5%
20.7%
19.2%
19.0%
29.5%
23.7%
15.8%
14.6%
16.4%
8.9%
45.2%
10.7%
23.7%
8.5%
1.3%
1.8%
14.7%
60.8%
10.4%
11.1%
2.2%
0.4%
0.4%
By Sex Male Female By Race White only Black only All others By Ethnicity Hispanic Not Hispanic By Age 16-25
26-35
36-45
46-55
56+
No degree High school diploma Associates degree Bachelors degree Masters degree Professional degree PhD
Note: CPS data for 2019.
benefits of this rule qualitatively and how they will outweigh any direct employer costs.
C. Impacts of Proposed Rule
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1. Overview This section quantifies direct employer costs and transfer payments associated with the proposed rule.
These impacts were projected for 10
years. The Department estimated average annualized direct employer costs of $2.4 million and transfer payments of $1.5 billion. As these numbers demonstrate, the largest quantified impact of the proposed rule will be the transfer of income from employers to employees. The Department also discusses the many
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2. Costs The Department quantified two direct employer costs: 1 Regulatory familiarization costs and 2
implementation costs. Other employer costs are considered qualitatively.
a. Regulatory Familiarization Costs The proposed rule will impose direct costs on covered contractors by requiring them to review the regulations. The Department believes
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that all Federal contracting firms that have or expect to have covered contracts will incur regulatory familiarization costs because all firms will need to determine whether they are in compliance. The Department assumed that on average, one half-hour of a human resources managers time will be spent reviewing the rulemaking. During the 2014 rulemaking implementing Executive Order 13658s minimum wage requirements, the Department used one hour of time. The Department has used a smaller time estimate here because most of the affected firms will already be familiar with the previous
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22JYP2
EP22JY21.010
By Education
