New York teachers get retroactive pay deal with city: report

NEW YORK (Reuters) - New York Mayor Bill de Blasio could announce a deal as early as Thursday to settle a years-old labor dispute with city teachers who have been seeking retroactive pay worth up to $3.5 billion, according to a report in the New York Times. The report, which cites 'an official involved in the talks', said the 9-year contract will include retroactive pay of about 8 percent of wages going back to 2009 and raises of up to two percent in subsequent years, as well as healthcare savings for the city. Reuters reported in March that a broad outline of a deal, which would mark the teachers' first contract since 2009, would emerge at the end of April, potentially opening the door to a settlement with over 300,000 other city workers before the end of the city financial year on June 30. (Reporting by Edward Krudy; editing by Andrew Hay)