Ports Rush to Reopen After Dockworker Strike Is Suspended

Published On Oct 4, 2024, 4:16 PM

The International Longshoremen’s Association (ILA) and port employers reached a tentative agreement to suspend a major strike that had shut down East and Gulf Coast ports. The agreement includes a 62% wage increase over six years and extends the existing contract until mid-January while other issues, such as the use of automation at ports, are negotiated. This strike was the first full-scale stoppage of its kind since 1977 and was significant enough to potentially impact the economy, especially with a national election looming. However, analysts suggest that there is unlikely to be a significant increase in consumer prices due to pre-emptive actions taken by businesses.