U.S. dockworkers agreed to end their three-day strike as East Coast ports raised their contract offer. The quick end should mean limited disruption to the U.S. economy, just weeks before the presidential election.
The International Longshoremen's Association accepted a a 62% wage increase over six years, The Wall Street Journal reported. The United States Maritime Alliance had previously offered a 50% pay hike. Dockworkers had wanted 77%.
While wages seem settled, there's not a full labor agreement. The East Coast ports and longshoremen extended their current deal, which had expired, through Jan. 15, 2025. That'll give both sides time to discuss other issues, including automation. Dockworkers had demanded a permanent ban on automation.
U.S. ports are among the most inefficient in the world due to the lack of automation.
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