U.S. West Coast Port Employees Agree to Deal
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West Coast dockworkers and their employers reached a five-year contract deal, averting a shutdown of 29 ports that could have cost the U.S. economy $2 billion a day, Labor Secretary Tom Perez said.
“This is now in the rear-view mirror. A significant potential headwind for this economic recovery has been removed,” Perez told reporters outside the San Francisco headquarters of the Pacific Maritime Association, which had been locked in a nine-month contract battle with the International Longshore and Warehouse Union.