U.S. dock workers and port operators have reached a tentative deal that will immediately end a crippling three-day strike that has shut down shipping on the U.S. East Coast and Gulf Coast, the two sides said on Thursday.
The tentative agreement is for a wage hike of around 62% over six years, two sources familiar with the matter said, including a worker on the picket line who heard the announcement. That would raise average wages to about $63 an hour from $39 an hour over the life of the contract.
The International Longshoremen's Association (ILA) workers union had been seeking a 77% raise while the employer group — United States Maritime Alliance (USMX) — had previously raised its offer to a nearly 50% hike.
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