Bloomberg reports that the West Coast dockworkers and their employers have signed a five-year labor contract, ending the threat of a potential shutdown of 29 West Coast ports, which could have cost the U.S. economy $2 billion a day. The article quotes Labor Secretary Tom Perez, who helped bring about the deal, as saying, "This is now in the rear-view mirror. A significant potential headwind for this economic recovery has been removed." The deal ends a nine-month negotiation process between the International Longshore and Warehouse Union and the Pacific Maritime Association that has seen significant delays in the movement of freight at several West Coast ports. (Read More)