President Joe Biden is signing a bill Friday to avert a freight rail strike that he said could have plunged the U.S. into recession.
President Biden is poised to sign a bill into law that would force rail workers to accept a tentative labor agreement.
Members in four of the 12 unions involved rejected the proposed contract, creating the risk of a strike beginning Dec. 9 that the government has likely staved off with the bill signing. A freight rail strike also would have a big potential impact on passenger rail, with Amtrak and many commuter railroads relying on tracks owned by the freight railroads.
Rising prices already have many Americans afraid of a coming downturn, but the U.S. job market has been steady. The government reported Friday that employers added 263,000 jobs in November as the unemployment rate held at 3.7%.The Biden administration helped broker deals between the railroads and union leaders in September, but four of the unions rejected the deals.
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