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What is the Fair Labor Standards Act?

The Fair Labor Standards Act (FLSA) is the federal law establishing a federal minimum wage, overtime compensation requirements, payday rules, child labor requirements, and record keeping requirements. The FLSA was passed to protect unskilled laborers, minors, and others who work in low paying jobs. The FLSA, however, does not cover all employees, specifically professional, administrative, and executive employees, who are exempt from the FLSA.