Seattle, Washington - Striking workers at Boeing approved the company's latest contract proposal Monday, ending a more than seven-week labor stoppage at the beleaguered aviation giant.

The International Association of Machinists and Aerospace Workers (IAM) District 751, which had rejected two prior offers, ratified the latest bid by 59%, the union said.

The move will send some 33,000 Seattle-area workers back on the job and restore operations at two major assembly plants.

The contract includes a 38% wage hike, a $12,000 signing bonus, and provisions to lift employer contributions to a 401K retirement plan and contain health care costs.

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But the contract did not restore Boeing's former pension plan that had been sought by older workers.

Jon Holden, head of the Seattle union, described the contract as a win for workers who were determined to make up for more than a decade of stagnant wages from prior negotiations that had enraged many rank-and-file workers.

"The strike will end and now it's our job to get back to work and start building the airplanes, increase the rates and bring this company back to financial success," Holden said at a news conference.

"I'm proud of our members," Holden said. "They've achieved a lot and we're ready to move forward."