Boeing (B.A) withdrew its latest offer to union workers on Tuesday after negotiations failed The strike is entering its fourth week.

The Arlington, Virginia-based company’s offer – which it called its “best and final proposal” – included a 30% pay increase for the 33,000 factory workers who have been on the strike line since September 13, following a preliminary agreement had rejected the employment contract.

District 751 of the International Association of Machinists and Aerospace Workers (IAM), which represents these workers slammed Boeing’s offer as disrespectful. The union has argued that its workers need a 40 percent wage increase to combat cost of living, a return to the pension system it abandoned under a 2014 agreement, more commitment to product safety and other benefits.

“Unfortunately, the union did not seriously consider our proposals,” Stephanie Pope, head of Boeing Commercial Airplanes, said in a note to employees on Tuesday Reuters. “Further negotiations make no sense at this point,” Pope added, as the executive described the IAM’s demands as “non-negotiable.”

The longer the strike continues, the greater its economic impact will be. There is already concern that it will shed the November jobs report. In addition to the more than 30,000 workers who quit their jobs, Boeing also quit Vacation days initiated. Boeing’s problems – which started with one this year almost catastrophic incident It was a 737 Max 9 jet and has led to intense scrutiny of its operations – possibly Effects for Boeing suppliers.

“The recent hurricane in Florida and the Carolinas, as well as the Boeing strike, have the potential to weigh on GDP growth for the remainder of the year,” analysts at Oxford Economics wrote in a recent note.

S&P Global Mobility (SPGI) on Tuesday appreciated that Boeing will suffer a cash outflow of about $10 billion in 2024, partly due to the strike and moves to overhaul its manufacturing process, and issued a negative outlook on the company’s credit rating. Boeing is expected to burst into flames 50 million dollars a day in cash Because of the strike.

Boeing is exploring options to raise billions of dollars, Reuters (TRI), including the sale of stocks and equity-related securities.