Market Letters

09.15.22: Laufer Client Advisory – Nationwide Freight Railroad Strike Averted

This morning the U.S. Labor Department announced that the rail companies and union negotiators came to a tentative agreement that “balances the needs of workers, businesses and our nation’s economy.”   

A USA Railroads strike had been called to begin starting 0001 hrs. Friday September 16. 

The tentative agreements announced this morning follow the Aug. 16 recommendations of Presidential Emergency Board (PEB) No. 250, which include a 24 percent wage increase during the five-year period from 2020 through 2024 — with a 14.1 percent wage increase effective immediately — and five annual $1,000 lump sum payments, the National Railway Labor Conference said in a statement. 

All tentative agreements are subject to ratification by the unions’ memberships. 

We will keep you updated on any new developments regarding this issue. In the meantime, please continue to check out our INSIGHTS and NEWS pages for the latest information. 

Should you need further information or have any concerns or queries, please contact your Laufer sales or customer service representative.