The union and Boeing have reached a revised contract proposal in an attempt to end the strike and hold a vote on Monday.

• Earlier this month, Boeing's over 32,000 machinists voted against a previous contract proposal.
• On Sept. 13, the machinists who were part of a union went on strike after turning down the initial proposed settlement.
• The walk-out has halted most of Boeing's aircraft production.

The machinists' union has agreed to a new negotiated offer to raise worker pay and potentially end a crippling strike that began almost seven weeks ago, with a vote on the new proposal set for Monday.

The union urged workers to approve the contract.

"The International Association of Machinists and Aerospace Workers District 751 stated on Thursday that in every negotiation and strike, there comes a point where they have extracted everything they can through bargaining and by withholding their labor. They are currently at that point and risk receiving a regressive or lesser offer in the future."

The union stated that prolonging the strike "Wouldn't be right as we have accomplished so much success."

On September 13, Boeing's over 32,000 machinists, primarily located in the Seattle area, went on strike after rejecting a tentative agreement. They had previously turned down another proposal, which prolonged the strike.

The union announced on Thursday that the new proposal includes a 38% increase in general wages over four years, up from the previous offer of 35%, resulting in a compounding pay increase of nearly 44%. Additionally, workers have the option to receive a $12,000 one-time ratification bonus or a $7,000 ratification bonus and a $5,000 401(k) contribution.

Since taking the CEO position in August, Kelly Ortberg has been intensely working to find a solution that satisfies the company and its employees' requirements. However, hours after his first earnings call, the workers rejected the proposed agreement.

In recent years, as technology giants like Amazon and Microsoft have increased their staffing in the Seattle area, the cost of living has also increased, prompting workers to repeatedly demand higher compensation.

The production flaws and safety issues, including a door plug that blew out midair from a Boeing 737 Max 9, have caused Boeing leaders' plans to stabilize the aerospace company to be pushed back further by the strike.

Boeing reported a loss of over $6 billion in the last quarter and predicted it would keep losing money until 2025.

The Boeing strike is expected to dent Friday's U.S. jobs report.