Israeli port strike ends with 6pc wage increase

Time:2011-01-10 Browse:37 Author:RISINGSUN

ISRAELI dockers have ended their near week-long strike after the union and the government agreed to a six per cent pay increase over two years, reports Bloomberg.

"This is a fair agreement for both sides," Histadrut union negotiator Avi Nissenkoren said in a statement.


According to the agreement, most port employees will have three per cent wage increase in both years of the new contract. Also, the junior staff, who were employed as late as 2005 will get an extra five per cent over the two-year period, amounting to an 11 per cent increase, Israeli finance ministry spokesman Shlomi Shefer told Bloomberg.


The nation`s 2,500 dock workers in the ports of Haifa, Ashdod and Eilat kicked off the industrial action on January 3 after having a deadlock in wage negotiations with the government.


Exports account for nearly 50 per cent the country`s GDP. Israel`s economy grew 4.5 per cent last year, which was partly attributed to a 12.6 per cent increase in exports.