In a 3-2 vote on April 23, the Federal Trade Commission approved of a new rule that will ban noncompete agreements for most workers in the United States, meaning they will be free to join competing business or start businesses of their own.
According to the FTC, the rule will result in up to $194 billion in reduced healthcare costs and $400 to $488 billion in increased wages over the next decade. The rule takes effect in 120 days once published in the Federal Register.