Dock Workers Strike Suspended

A strike by dockworkers on the East Coast has been suspended after an agreement on wage hikes was reached late Thursday.

Dock workers at ports from Maine to Texas went on strike early Tuesday morning, but were back to work on Friday morning.

A large number of the 45,000 members of the International Longshoremen’s Association walked off the job and manned picket lines at 36 ports that serve the Eastern Seaboard and Gulf states. This was the first dock workers strike in the U.S. since 1977.

The union argues that shipping companies saw large profits during the supply chain disruptions caused by the COVID pandemic and it is time for workers to receive some of those windfall profits.

The suspension of the strike came after ports and shipping companies agreed to a 62 percent raise over six years. Other issues, including a ban on automation at ports, remain on the table. Negotiators now have until January 15th to finalize a new contract.

For Market to Market, I’m Peter Tubbs.