A closing vote wrapped up Friday to approve a UPS-Teamsters labor settlement that averted an enormous strike, clearing the best way for the brand new contract to take impact.
The International Brotherhood of Teamsters’ nationwide grasp settlement with UPS covers some 340,000 drivers, package deal handlers and different employees at UPS.
Overall, the five-year UPS-Teamsters contract was ratified with a document 86.3% of votes in favor and 58.1% voter turnout, in line with the union.
The new contract means larger wages, extra full-time jobs and protections for UPS employees, together with giving present part-time employees raises to at the very least $21 per hour instantly, in line with the Teamsters. Full-time supply drivers will get wage will increase to a mean prime fee of $49 per hour.
— Atlanta Journal-Constitution
Wall Street climbs to clinch its first profitable week in a month
Stocks rose to ship Wall Street to its first profitable week since July. The S&P 500 climbed 0.7% Friday after flipping between small good points and losses a couple of occasions by the day.
The Dow Jones Industrial Average added 247 factors, and the Nasdaq composite rose 0.9%. The good points got here after the top of the Federal Reserve stated it’ll proceed rigorously because it decides what to do with rates of interest. The Fed has already hiked its primary fee to the very best degree in 2001 in hopes of driving down inflation, and plenty of traders would slightly not see any extra.
Chair Jerome Powell stated the fed will make upcoming choices on rates of interest primarily based on what incoming information studies say about inflation and the financial system, and he made no guarantees about what’s coming subsequent.
— Associated Press
Source: www.bostonherald.com”