The agreement is the largest collective bargaining agreement at a private-sector employer based on number of workers.
last month, narrowly averting a strike that could have rippled throughout the U.S. economy as the previous contract expiration on July 31 approached.
UPS moves $3.8 billion worth of goods a day, about 5% of the country's gross domestic product, according to the U.S. Chamber of Commerce.Sign up for NBC San Diego newsletters. The parties had until July 31, when the previous labor contract was set to expire, to reach a deal and avoid a work stoppage. Workers began voting on the new contract on August 2. It's the single largest collective bargaining agreement ever reached in the private sector, according to the union.
Part-time workers will make no less than $21 an hour, up from a minimum of $15.50 currently, according to the union. Part-time pay was a sticking point during labor negotiations. Full-time workers will average $49 an hour. Current workers will get $2.75 more an hour this year and $7.50 an hour more during the five-year contract.
UPS drivers will average $170,000 in pay and benefits at the end of the five-year deal, CEO Carol Tomé
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