from ZeroHedge:
More than 45,000 International Longshoremen’s Association (ILA) members from over three dozen facilities across 14 Gulf and East Coast ports went on strike early Tuesday, marking the largest labor action at US ports in nearly 50 years. The labor action, driven by disputes over automation and wages in a new multi-year labor contract, threatens to disrupt supply chains nationwide. If the strike persists for more than a week, retailers could face shortages of certain goods (read: here), potentially sparking another wave of inflation.
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ILA’s strike hit 36 ports across the Gulf and up and down the East Coast—this is the union’s first labor action since 1977. Workers walked off the job at the Port of Philadelphia a few short minutes after midnight when ILA and the US Maritime Alliance (USMX)—a coalition of port operators and carriers—failed to agree on a new labor contract offer that would have boosted wages by 50% over six years and pledged to place limitations on port automation. The union has demanded a 77% pay bump.
