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The Federal Trade Commission estimates that workers are losing out on nearly $300 billion annually due to noncompete agreements. A new FTC proposal seeks to ban noncompete clauses at the federal level, following states that have already made them unenforceable. The FTC believes this ban will benefit workers by forcing companies to find creative ways to retain talent. Noncompetes typically restrict workers from joining competitors after leaving a company, posing challenges for both workers and businesses.
