{"id":35580,"title":"US dockworkers suspend their strike to allow for discussions","publisher":"Stockmark.IT","author":"Stockmark.IT Website","published":"2024-10-04T08:39:01+00:00","modified":"2024-10-04T08:39:01+00:00","canonical_url":"https://stockmark.it/us-dockworkers-suspend-their-strike-to-allow-for-discussions/","markdown_url":"https://stockmark.it/us-dockworkers-suspend-their-strike-to-allow-for-discussions.md","json_url":"https://stockmark.it/us-dockworkers-suspend-their-strike-to-allow-for-discussions.json","category":"Global Politics","categories":["Global Politics"],"featured_image":"https://i0.wp.com/stockmark.it/wp-content/uploads/stencil.default-2024-07-04T064420.075.jpg?fit=1200%2C800&quality=89&ssl=1","format":"news","language":"en-GB","content":"Dockworkers in ports along the east and Gulf Coasts of America have agreed to resume cargo movement while they continue bargaining collectively with their employers for a new contract. The International Longshoremen’s Association announced that it had reached an agreement with the union on wages. They have extended their contract to January 15, so they can return to the table and negotiate any other issues.\n\nPort owners in the US were under increasing pressure to end the largest dockworker’s strike in nearly half a century. This has left dozens container ships waiting at large ports.\n\nThe ILA walkout was about to enter its fourth full day. Dockworkers rejected a 50% pay increase offer from the United States Maritime Alliance, the alliance of container carrier, port employers and unions.\n\nData from Everstream Analytics show that 54 ships were waiting outside of big ports along the East and Gulf coasts. This is up from just three vessels on Sunday. The worst affected ports are those in Savannah, Georgia; New York City and Norfolk, Virginia.\n\nDock workers on strike at Red Hook Container Terminal in Brooklyn, New York. This is the first major stoppage of the ILA since 1977. It has affected 36 ports. Businesses warned of the potential shortages in everything from bananas, to clothing and car parts. JP Morgan analysts estimate that the strike may cost the US economy $5 billion per day. Biden has stood with the union, and has refused to allow Republican rivals or US retailers to call for federal power to stop the strike.\n\nBiden stated this week that “foreign ocean carriers” have recorded record profits since pandemic. “Executive pay has increased in tandem with profits, and profits are being returned to shareholders at record levels.” It is only fair for workers who risked their lives to keep the ports open during the pandemic, to see an increase in wages."}