UPS Workers Approve New Labor Contract

UPS workers have ratified a new contract with the company, according to an announcement from the Teamsters union.

The deal passed with 86.3% of votes, the highest contract vote in the history of Teamsters at UPS, according to the union.

UPS and the Teamsters union, which represents about 340,000 workers at the delivery giant, reached a preliminary deal last month, avoiding a strike that could have greatly impacted the U.S. economy, according to CNBC.

Click here to read the full report from CNBC.