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The union representing 45,000 striking U.S. dockworkers at East and Gulf coast ports reached a deal Thursday to suspend a three-day strike until Jan. 15 to provide time to negotiate a new contract.
Some 45,000 dockworkers at East and Gulf coast ports are returning to work after their union reached a deal to suspend a strike that could have caused shortages and higher prices if it had dragged on.
The research group further predicted that the losses per day would accelerate the longer the strike went on. [10] J.P. Morgan estimated a higher $3.8 billion to $4.5 billion loss per day for the economy for the length of the strike, with some losses recovered following the strike's end. [6]
The strike, the first by East and Gulf Coast dockworkers since 1977, had shut down 14 ports since Tuesday. ... "I'm sure that if they weren't going anywhere they wouldn't have suspended [the ...
Brusuelas estimated the strike would affect about $1.3 billion in exports and $3 billion in imports daily, still a modest figure given the size of the American economy.
The union had been willing to consider the $4-an-hour deal before the strike, union boss Harold Daggett said on the picket line outside the Port of New York and New Jersey early Tuesday, soon ...
The strike was suspended late Thursday until January 15, with workers securing wage increases for each year of the contract, as well as protections against automation "and other issues that we ...
In their first strike since 1977, ILA dockworkers have been pushing for a 77% pay raise over the life of the contract and a halt on automation that could replace union jobs at U.S. ports.