A deal was reached between South African company Transnet and the South African Transport & Allied Workers' Union on Thursday, ending almost three weeks of a strike. The deal includes a one-time payment of 1% of workers' wages and an 11% pay raise. The agreement will raise the minimum wage to $6,440 a year. The union said that they were happy with the deal, but would continue to push for a housing allowance and longer maternity leave. Transnet's CEO said that their priority was clearing backlogs from the strike. The strike is estimated to have cost the government 7 billion rand every two weeks, with the fruit industry losing around 1 billion rand, as well as damaging the auto, wine and metals industries. Workers are due to start work again on Friday.
See "Wage Agreement Ends South Africa Transport Strike", Robb M. Stewart, The Wall Street Journal, May 26, 2010