The Fair Labor Standards Act (FLSA) is a U.S. law that establishes minimum wage, overtime pay, recordkeeping, and youth employment standards. Enacted in 1938, it aims to protect workers from unfair labor practices and ensure they receive fair compensation for their work. The FLSA applies to both private and public sector employees, setting guidelines for how much workers should be paid and how many hours they can work. It also includes provisions to prevent child labor, ensuring that young workers are not exploited in the workforce.