Dockworker Strike Suspended

Around 45,000 dock workers in the International Longshoremen’s Association (ILA) delayed their strike Thursday after port operators upped their contract offer.

New Offer: The revamped proposal includes a 62% wage increase over six years, up from 50% in the previous offer. If no deal is reached within 90 days, the new proposal will be retracted. 

For Context: The strike will resume Jan. 15 if no deal is reached. It spanned 36 ports and was expected to disrupt supply chains and raise costs on some items ahead of the holiday shopping season. Workers are calling for higher wages and voicing concerns about automation in the workplace.

Possible Costs: Several outlets quoted a J.P. Morgan analysis which said the strike could have cost $3.8 billion to $4.5 billion per day. Neither outlet linked the primary source; AllSides found a J.P Morgan explainer which said the strike "could reduce U.S. economic activity by $4.5 billion to $7.5 billion per week," or $640 million to $1.1 billion per day. 

How the Media Covered it: The Associated Press (Lean Left bias) downplayed concerns by noting that many retailers "had stocked up or shipped items early in anticipation of the dockworkers’ strike."