Latest updates: Deal reached between feds, union for 120,000 striking public servants

Very early Monday morning, the Public Service Alliance of Canada (PSAC) announced it had reached a 'tentative' agreement with the federal government for the 120,000 picketing Treasury Board workers who, since April 19, had been engaged in one of the largest strikes in Canadian history. We'll be providing live updates on the deal from Parliament Hill.

Very early Monday morning, the Public Service Alliance of Canada (PSAC) announced it had reached a "tentative" agreement with the federal government for the 120,000 picketing Treasury Board workers who, since April 19, had been engaged in one of the largest strikes in Canadian history.

While a deal has been reached for the striking employees in the education and library; program and administrative; operational service; and technical service bargaining units in Canada's core public service, 35,000 Canada Revenue Agency workers remain on the picket line.

The agreement comes after Treasury Board President Mona Fortier put what she said was a "final" offer on the table over the weekend. We'll be learning more about the deal, as well as hearing reaction to it as the day unfolds, and providing live updates from Parliament Hill, below.

Reacting to the May Day deal reached, Treasury Board President Mona Fortier called the tentative agreement "excellent news for employees, and for Canadians."

"This wasn't easy. We negotiated, we compromised, and we found creative solutions. And after many long days, nights, and weekends of hard work, we've reached fair and competitive deals."

Overall, Fortier said the cost of the deal is estimated at $1.3 billion a year, or as she framed it: "less than half of the cost of the PSAC's original demands." She pointed to the federal government presenting its final offer as when "things started to shift."

Pointing to the added year secured under the agreement—keep reading for more details on this below—Fortier said it will provide "an additional year of stability" before the two sides have to go back to the bargaining table.