After receiving an enhanced contract proposal, the International Longshoremen's Association suspended its on Thursday that has shut major East and Gulf coast ports. The existing contract will remain in place through Jan. 15 to allow time for more negotiation over other issues, the reports, after port owners proposed a 62% pay raise.
If dockworkers stay on the job, the US economy would not be subject to the feared disruption, including possible shortages of consumer products and higher prices. The union's statement said that it reached "a tentative agreement on wages" that will allow the 45,000 workers to return to the job, per the . A 62% jump would be less than the union wanted—77%—but more than the US Maritime Alliance had proposed earlier in the week, which was 50% over six years.
Under the tentative terms, longshoremen at the top of the scale would receive an increase of $24 an hour over the six years. A union vice president told the he thinks the outstanding issues can be settled. "I believe that all parties are energized," Vincent Cameron said.
(More stories.).