10-01-2024, 02:46 AM
The strike of the International Longshoremen's Association (ILA) has been initiated.
This strike affects 36 East and Gulf Coast ports, and could reportedly cost out economy cost the U.S. economy between $3.8 billion and $4.5 billion per day.
The impasse between the ILA and the employing business entity (seem rooted in a wage dispute, and threats to job security.
From FoxBusiness: Dockworkers go on strike at East and Gulf Coast ports
The International Longshoremen's Association (ILA), which represents 45,000 dockworkers, began its first strike since 1977 after its six-year contract with the U.S. Maritime Alliance (USMX), which represents port employers, expired Monday night.
Negotiations between the ILA and USMX have been deadlocked thus far over the union's demands related to wage hikes and compensation, as well as protection from automation at ports.
...
USMX reportedly made a new offer to the ILA on Monday afternoon that would've raised wages by nearly 50% over the new contract as well as tripling employer contributions to retirement plans, better health care and kept language about automation in the deal. Sources told FOX Business that the ILA rejected the offer and didn't make a counter.
The strike comes after USMX filed an unfair labor complaint with the National Labor Relations Board against the ILA last week, arguing that the group was breaking labor laws by refusing to negotiate. The ILA criticized the move as a "publicity stunt" and said USMX should file labor complaints against port employers for not paying dockworkers better wages.
I wonder if this will be seen as an "opportunity" by US retailers and transport companies to bump prices around the country... they seem to do that whenever they can.
This development will become fodder for political and financial talking heads... you can bank on that.
This strike affects 36 East and Gulf Coast ports, and could reportedly cost out economy cost the U.S. economy between $3.8 billion and $4.5 billion per day.
The impasse between the ILA and the employing business entity (seem rooted in a wage dispute, and threats to job security.
From FoxBusiness: Dockworkers go on strike at East and Gulf Coast ports
The International Longshoremen's Association (ILA), which represents 45,000 dockworkers, began its first strike since 1977 after its six-year contract with the U.S. Maritime Alliance (USMX), which represents port employers, expired Monday night.
Negotiations between the ILA and USMX have been deadlocked thus far over the union's demands related to wage hikes and compensation, as well as protection from automation at ports.
...
USMX reportedly made a new offer to the ILA on Monday afternoon that would've raised wages by nearly 50% over the new contract as well as tripling employer contributions to retirement plans, better health care and kept language about automation in the deal. Sources told FOX Business that the ILA rejected the offer and didn't make a counter.
The strike comes after USMX filed an unfair labor complaint with the National Labor Relations Board against the ILA last week, arguing that the group was breaking labor laws by refusing to negotiate. The ILA criticized the move as a "publicity stunt" and said USMX should file labor complaints against port employers for not paying dockworkers better wages.
I wonder if this will be seen as an "opportunity" by US retailers and transport companies to bump prices around the country... they seem to do that whenever they can.
This development will become fodder for political and financial talking heads... you can bank on that.
