The International Longshoreman's Association (ILA) strike that halted trade at East and Gulf Coast ports in the U.S. this week has been put on hold after the union agreed to a 62% raise for the 45,000 dockworkers under its tentative agreement with the U.S. Maritime Alliance (USMX), which represents the port employers.
Under the previous contract that expired on Monday, ILA dockworkers' starting wage was at $20 per hour and topped out at $39 per hour (or more than $81,000 annually) for employees with six or more years of service...