good deal

NYC Teachers to Get $3.4B Back Pay

New York City Mayor Bill de Blasio is making it right with teachers first. In a "landmark" labor deal with the United Federation of Teachers, he announced that he would grant $3.4 billion of back pay to the union in exchange for a reduction in health care costs and easing classroom work rules. Over seven years, teachers will receive raises totaling 10 percent. The agreement first must be ratified by the union's members.