New York City and teachers union ink $5 billion-plus contract deal

Friday, May 2, 2014

The United Federation of Teachers would receive a 10 percent pay hike over seven years and retroactive raises of 4 percent for 2009 and 2010 under what Mayor Bill de Blasio Thursday hailed as a "landmark" deal with the union.

The tentative contract -- projected to cost more than $5 billion -- marks the potential end of years of labor stalemate under former Mayor Michael Bloomberg.

It would set the framework for negotiations on the city's other 150-plus open contracts through so-called pattern bargaining. All city labor contracts expired under Bloomberg.

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