Railroad strike that threatened to cripple US economy averted

A freight railroad strike that was threatening to cripple US supply chains was averted at the last minute on Thursday after unions and management shook hands on a tentative deal.

The 20-hour marathon talks between the unions representing more than 50,000 railway employees and labor negotiators ended at about 2:30 am, less than 24 hours before the nationwide strike was set to start.

A White House statement called it “an important win for our economy and the American people.”

Biden called in
President Joe Biden called in personally to talk to negotiators and stressed that a shutdown of the rail system would bring catastrophic harm to American families, businesses and communities, sources said. Railroads move about 30% of the nation’s freight.

“This agreement is validation…of what I have always believed: Unions and management can work together… for the benefit of everyone,” Biden said.

All happy
Apart from a significant pay raise, the railway employees’ main demand for easier work schedules has been addressed, it seems, even though details of the deal have not been made public yet.

“These rail workers will get better pay, improved working conditions, and peace of mind around their health care costs: all hard earned,” Biden said.