NAHB NEWS DOL Considering Next Steps on Overtime Rule issued a rThe Department of Labor has equest for information How Construction Firms Compare to Other Industries of construction firms tA new study from NAHB Economics compares the business operations o businesses in other industries. The study is based on the U.S. Census Bureau’s new Annual Survey of Entrepreneurs (ASE). The study, available on HousingEconomics.com, presents new insights into the general business characteristics and finances of firms in the construction industry. Key results include finding that, compared to other industries, construction businesses in the U.S.: • Are somewhat more likely to operate on a seasonal basis; • More often operate out the business owner’s home; • Tend to make heavy use of subcontractors; • Are less likely to have company website A particularly useful aspect of the ASE is the financial data it collects, much of which is not available in a consistent and comprehensive way from any other source. The ASE financial data show that construction businesses in the U.S.: • Require less start-up capital than other businesses; • Often use personal or family savings as the primary source of start-up capital; • Tend to rely on banks and credit cards if they need additional funding; • Are marginally more effective than other businesses in raising additional funding; The ASE is the U.S. Census Bureau’s first effort to produce yearly estimates on businesses and business owners. . on the Obama administration’s overtime rule, and NAHB will submit comments independently and as a member of the Partnership to Protect Workplace Opportunity coalition. The Obama administration last year issued a proposed rule that was set to take effect Dec. 1, 2016, that would double the salary threshold to receive overtime pay from $23,660 to $47,476. Working with Congress and members of our business coalition, NAHB led the effort to mitigate the effects of the rule. Moreover, NAHB joined other business groups in filing a lawsuit to challenge the overtime rule. As a result of these efforts, the rule was never implemented because a judge issued a preliminary injunction against it. The Department of Labor is providing the public with the opportunity to offer input as the agency mulls its next steps. NAHB will provide detailed comments by the September 2017 deadline. Apply to Serve on an NAHB Committee/ Council fThe online application process or 2018 NAHB committee and council board of trustees appointments is now open. NAHB strongly encourages all who are interested to submit an application. Applications must be submitted online before Sept. 22. 34 HBRA of Fairfield County | SUMMER 2017
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