Biden to sign executive order to increase labor competition

(KYMA, KECY/ CNN) - The White House says President Joe Biden will sign an executive order aimed at increasing competition in labor markets.

White House Press Secretary Jen Psaki said Wednesday that the initiatives will call on the Federal Trade Commission to "adopt rules that could help curtail non-compete agreements." Also noting that employees in about half of the private sector's businesses must sign non-compete agreements.

Psaki said Biden believes workers should be free to accept better jobs when they are given the opportunity.

The executive order will also call on the FTC to ban unnecessary occupational licensing requirements. Psaki also noted that almost 30% of American jobs require a license and unnecessary or overly burdensome licensing can keep people out of jobs.