Posted on August 14, 2024
Port workers along the East and Gulf coasts are threatening to strike in October — just weeks before Election Day, Axios’ Emily Peck writes.
- Why it matters: Of all the workers critical to the smooth flow of goods around the planet, it’s unionized dockworkers who find themselves with the most power and best pay.
The drama is playing out on the East Coast with the International Longshoremen’s Association, the largest maritime union in North America.
- More than half of the cargo shipped to the U.S. from around the world comes through those ports.
- Observers tell Axios that wages are the big sticking point. East Coast workers want a better deal than their peer union on the West Coast negotiated last year.
- The union says it won’t work past the Sept. 30 expiration of its contract. “[W]e are very far apart, particularly on the economic issues. In fact, we are at an impasse,” according to a statement from union president Harold Daggett.
Reality check: At this point, a strike is still unlikely, says Moses Kopmar of Moody’s Ratings.
- Even if a strike happens, disruptions won’t come close to the crisis at the ports brought on by the pandemic.