What are "employment standards" as defined by the Fair Labor Standards Act?

The Fair Labor Standards Act (FLSA) primarily focuses on establishing parameters for minimum wage, overtime pay, recordkeeping, and youth employment. By defining employment standards, the FLSA ensures that employees receive a baseline level of compensation for their work, particularly in terms of minimum wage and ensuring they are compensated at least one and a half times their standard rate for hours worked beyond the typical 40-hour workweek. This legislation is a significant piece of employment law as it directly impacts workers' rights and the financial framework within which employers operate. Therefore, the correct answer accurately reflects the essence of what employment standards entail under this act. Other options, while related to employment terms, do not specifically capture the foundational focus of the FLSA.