Noncompete agreements are supposed to protect companies from losing their edge in the marketplace when they lose an employee. But, in a new report, the Obama administration argues that companies are overusing these agreements to the detriment of workers.
The report, published as part of a broader look at noncompetes from the president and executive departments, accuses companies of abusing noncompetes in a way that has been hurting employees and “depressing wages, limiting mobility and inhibiting innovation” in the economy as a whole.
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