US Freight Railroads and Unions Reach Tentative Agreement

A potential strike was averted last week as a last-minute deal was reached between U.S. railroads and 60,000 rail employees. The Biden administration helped to broker a tentative deal after 20 hours of intense talks, preventing a work stoppage that would have been a major hit to the U.S. economy already struggling with high inflation, a labour shortage, and supply-chain disruptions. The new contracts give rail employees a 24 percent wage increase between 2020 to 2024.

Source:
Freight Railroads and Unions Reach Tentative Agreements, Strike Averted, Association of American Railroads, Sept 15, 2022. Accessed Sept 19, 2022.
Factbox: Last-minute deal by U.S. railroads, unions shifts focus to road ahead, Reuters, Sept 15, 2022. Accessed Sept 19, 2022.