Fairbanks teachers reach labor agreement

FAIRBANKS - Fairbanks teachers reached a labor agreement Friday with the Fairbanks North Star Borough School District.

The three-year contract was unanimously ratified. The previous pact expired June 30.

Bargaining teams from the Fairbanks Education Association - the teachers' union - and the school district have been negotiating since March.

The two sides reached an impasse after two meetings and were heading to a third meeting with an arbitrator before a tentative agreement was reached earlier this month.

The contract calls for $1,200 and a 2 percent annual raise in the first year. It also calls for $600 and a 3 percent raise in the second year and a 4 percent annual raise in the third year.