Long Island Rail Road halted all trains at 12:01 a.m. Monday after negotiations between the Metropolitan Transportation Authority and 3,500 engineers, signalmen and conductors collapsed, locking out 300,000 daily riders in the first system-wide shutdown since 1994, according to livemint.com.

The MTA and union leaders traded proposals through a 48-hour marathon that ended without agreement on a 17% wage increase demanded by the workforce, livemint.com reported. Talks broke down shortly before the Friday midnight deadline, leaving no formal sessions scheduled and riders scrambling for buses, ferries and car-pool apps to reach Manhattan.

The stoppage freezes the busiest U.S. commuter rail corridor at the start of a work week, paralleling the 2005 NYC transit strike that cost the regional economy an estimated $400 million a day. With Metro-North and New Jersey Transit already near capacity, congestion pricing set to begin in June and office occupancy rebounding above 70%, the shutdown threatens to ripple through Wall Street, JFK airport logistics and Long Island tourism, analysts told livemint.com.

MTA Chair Janno Lieber said the agency will return to the table “the moment the unions signal readiness,” while Governor Kathy Hochul activated emergency bus lanes on the Long Island Expressway and ordered ride-hail surge-price caps, according to livemint.com. Riders should watch for a noon update from the state mediation panel; if no deal emerges by Wednesday, the legislature may impose binding arbitration before the holiday weekend.

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