The Boeing strike could end soon after a breakthrough deal

Union leaders representing striking Boeing (BA) workers said Saturday that they had reached an agreement with company that they would put before members for a vote, raising the possibility that the costly, month-long strike could end as early as next week.

In a post on its website, leaders of the International Association of Machinists and Aerospace Workers (IAM) credited Acting U.S. Secretary of Labor Julie Su for helping reach a preliminary deal to end the strike that “warrants presenting to the members and is worthy of your consideration.” They said the contract proposal from the troubled plane maker included “improvements” to its prior offers, and said they were working toward a contract ratification vote on Wednesday.

“The future of this contract is in your hands,” they said.

In a statement, Boeing said: “We look forward to our employees voting on the negotiated proposal.”

The Wall Street Journal (NWSA) reported that Boeing is offering workers a 35% raise over four years, up from its originally proposed 25%, which the union had rejected.

The strike, which saw some 33,000 workers walk off the job on Sept. 13, had seemed like it might have no end in sight just a few days ago. The union had slammed a previous Boeing offer, which included 30% pay raises for workers, as disrespectful. It has argued that its workers need a 40% wage hike to combat the cost of living, a return to the pension system it gave up in a 2014 deal, more input on product safety, and other benefits.

“We’re in this for the long haul and our members understand that,” Jon Holden, lead negotiator for IAM District 751, said earlier this month.

As the strike has continued, its economic impact has grown. Its effects have cascaded to other companies. Spirit Aerosystems (SPR), a key Boeing supplier, has moved to furlough workers. There has even been concern the strike could impact the November jobs report.

— Melvin Backman and Rocio Fabbro contributed to this article.