The Latest Breaking News from UPS

Fed Chair Jerome Powell may find fighting the 'last mile' of inflation increasingly difficult, but in doing this he isn't likely to break the job market, with even more rate hikes.

More than 323,000 workers – including nurses, actors, screenwriters, hotel cleaners and restaurant servers – walked off their jobs during the first eight months of 2023. Hundreds of thousands of the employees of delivery giant UPS would have gone on strike, too, had they not reached a last-minute agreement. And…

UPS and the Teamsters have agreed a five-year labor deal that will pay some veteran drivers as much as $175,000 a year.

The Teamsters said that 86% of the votes casts were in favor of ratifying the national contract. They also said it was passed by the highest vote for a contract in the history of the Teamsters at UPS.

The union representing 340,000 UPS workers says its members voted to approve the tentative contract agreement reached last month

If the union goes on strike, analysts expect the economic losses to exceed $5 billion over the course of just 10 days.

Amid record profits, workers want to roll back concessions made to auto industry after the 2008 economic recession

A resilient job market, where wages are rising firmly past the level of headline inflation, remains a key concern for policymakers and rate traders as the economy continues to rip.

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