Tentative agreements achieved in US railway labour negotiations, strike averted
A US railway strike has been averted, at least temporarily, as the Class I railroads and all of the 12 unions representing rail workers have reached tentative agreements. A 20-hour negotiating marathon brokered by the Biden administration resulted on Wednesday night in tentative agreements with the last three unions.
In a statement issued by the White House, President Biden said, “the hard work done to reach this tentative agreement means that our economy can avert the significant damage any shutdown would have brought.”
The tentative agreements with each of the unions will be presented to members for ratification. Two of the 12 unions have already ratified their new agreements. Until all of the agreements pass a ratification vote, a strike remains a possibility.
If approved, the new contracts will provide rail employees a 24% wage increase during the five-year period from 2020 through 2024, in line with recommendations of the Presidential Emergency Board established by President Biden. Employees will receive lump-sum payments for retroactive wage increases.
