If you just bought 10 years worth of toilet paper, you may want to check if you still have the receipt.
Late on Thursday, 45,000 striking dockworkers at US East and Gulf coast ports agreed to return to work after port operators sweetened their contract offer, ending a three-day strike that threatened to disrupt the American economy.
The International Longshoremen’s Association and port operators, in a joint statement, said they had reached a tentative agreement on wages and union members would return to work. They said the agreement would extend the prior contract, which expired at the start of this week, through Jan. 15, 2025 while the two sides negotiate on other issues, including automation on the docks.
The breakthrough came after port employers offered a 62% increase in wages over six years, the WSJ reported citing people familiar with the matter. The new offer, up from an earlier proposed raise of 50%, came after the White House privately and publicly pressed the large shipping lines and cargo terminal operators who employ the longshore workers to make a new offer to the union.
Hellbound and Down 