• Chicago teachers have the highest average salary of any city at $76,000 a year before benefits.
  • The average family in the city only earns $47,000 a year.
  • Teachers pay only 3 percent of their health-care costs.
  • Out of every new dollar set aside for public education in Illinois in the last five years, a full 71 cents has gone to teacher retirement costs.
  • Just 15 percent of fourth graders are proficient in reading.
  • In 1987, 43% of incoming Chicago freshmen would drop out of high school without graduating.
  • 2012: Chicago's freshmen drop-out rate is 39.4%, the lowest it has ever been.
  • Only about 60% of Chicago high school students graduate compared with national average of 75%.

Source: Chicago Sun Times: 1987 teachers strike is an ugly lesson for Mayor Emanuel; 9/9/12

Source: Reuters: Chicago teachers, school officials resuming talks to avert strike; 9/9/12

Source: Chicago Public Schools System CPS.edu

Stuart Varney joined FOX Business Network (FBN) as an anchor in 2007 and is the host of "Varney & Co." (9-11 AM/ET) on weekdays. Click here for more information about Stuart Varney