The original deal was agreed to after a strike in 2016. Verizon workers will receive 11.2% over four years. This is a contract that is a year early. Management does not want a struggle here. There is labor peace through 2023.
Meanwhile, the municipal pattern setting DC 37 deal was ratified by 98% of their members who voted. It calls for increases that with compounding amount to a total of 7.42% over three years and 8 months.
UFT's contract will almost certainly be based on the DC 37 precedent.
Verizon workers are at least close to the current 2.9% U.S inflation rate. DC37's deal doesn't even get in the neighborhood.