The union will defer pay increases and accept furloughs in exchange for no layoffs and extra days off in the future.
A tentative deal has been struck between the state of New Jersey and it’s largest labor union.
The union will defer pay increases and accept furloughs in exchange for no layoffs and extra days off in the future. Bob Master is legislative and political director for the Communications Workers of America. He says job security is important and calls the contract a win for everyone.
Master: We’ve structured this thing so the state can save money but it’s done in a way that works best for our members and that’s the beauty of collective bargaining that you can reach these agreements works best for both sides.
The deal isn’t a cure-all for the state budget. Joel Naroff is chief economist for TD Bank.
Naroff: It gives some time to give the state time to work on their finances and get a little bit of help as the economy begins to turn.
The agreement still requires ratification by the union workers.