President Obama will reportedly use his executive authority to order the Labor Department to change its rules this week to require overtime pay for millions of workers currently classified as "executive or professional" employees.

The New York Times, citing White House officials briefed on the announcement, reported that Obama would announce the rule changes on Thursday.

The new regulations to the 1938 Fair Labor Standards Act would mandate that businesses provide overtime pay for those who work jobs as varied as fast-food restaurant manager, loan officer, and computer technician. Currently, businesses are prohibited from denying overtime to a salaried worker making less than $455 per week. The rules that President Obama is proposing would increase that salary threshold, though it was not clear by how much.

Conservative groups have warned that Obama's planned change would lead businesses to reduce staff or cut pay.

[link to www.foxnews.com]