Rail Strike Update: Owners and unions extend their agreement

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In the freight rail labor dispute, owners and unions have extended their cooling-off period until December 4th, meaning no strike can happen before that date.

The American Association of Railroads made the announcement last night, saying this will give other rail unions a chance to ratify the proposed agreement, and allow the two largest unions to complete voting before a potential shutdown.

To date, seven unions have voted to ratify the deal originally brokered by the White House with three other unions still voting; two have rejected it.

If all unions agree the sign the deal, the average pay for workers would be around $110,000 per year.