A strike by tens of thousands of dockworkers on the East and Gulf coasts, that could have seriously hurt the U.S. economy had it continued, has been called off.
All workers were called back to work Thursday, after a three-day strike, following a tentative agreement on wages between the International Longshoremen's Association and the United States Maritime Alliance, representing ocean carriers and port operators.
The two sides have agreed to a 62 percent wage increase over six years, according to sources who were familiar with the deal but not authorized to speak publicly about it. The union had been seeking a 77 percent increase over six years. A day before the strike began, the companies had offered nearly 50 percent in raises.
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