Economic Implications of 1st Port Worker Strike Since 1977

From product shortages to price pressures, economic observers weigh the implications of the port strike.

Major port strike threatens consumers, economy. Reuters via NTD

Thousands of Atlantic and Gulf Coast port workers went on strike at 12:01 a.m. on Oct. 1 for the first time since 1977, a work disruption that could potentially cause sizable harm to the U.S. economy.

The International Longshoremen’s Association (ILA), North America’s largest union of dock and maritime workers with 85,000 members, rejected a proposal made by the U.S. Maritime Alliance (USMX), which is a coalition of container carriers, direct employers, and port associations.