My earlier post is here, while the news was not overly clear - trying to get the info out quick:
Adding in some more detail now via various news outlets
- dock workers and port operators have reached a tentative deal ending a three-day strike affecting East Coast and Gulf Coast ports
- agreement includes a wage increase of approximately 62% over six years, raising wages from $39 to about $63 per hour
- the union, International Longshoremen's Association (ILA) originally sought a 77% raise, while employers, the United States Maritime Alliance (USMX) previously offered nearly 50%
- both parties agreed to extend their master contract until January 15, 2025, to continue negotiations on outstanding issues.
- The strike was the largest of its kind in nearly 50 years, impacting ports from Maine to Texas
- the strike caused significant disruptions, such as around 45 container vessels waiting to unload as of Wednesday, compared to three before the strike
- the strike affected 36 ports, including major ones like New York, Baltimore, and Houston
- reports are that consumer prices were unaffected due to earlier shipment acceleration, but prolonged strikes could increase food prices, particularly perishables like bananas, fruits, seafood, and coffee
