A looming port strike could fuel inflation and cause layoffs, experts say

Space_Time · Sep 29, 2024

I hope this doesn't happen. We don't need supply chain issues like we had during the pandemic. Would you support a strike:

https://www.google.com/amp/s/abcnew...tion-cause-layoffs-experts/story?id=114070962

A looming port strike could fuel inflation and cause layoffs, experts say

Tens of thousands of dockworkers are set to strike as soon as Oct. 1.

ByMax Zahn

September 27, 2024, 11:44 AM ET

A looming port strike could fuel inflation and cause layoffs, experts sayTens of thousands of dockworkers are set to strike as soon as Oct. 1, potentially snarling dozens of ports along the East and Gulf coasts with major implications for the U.S. economy.Evelyn Hockstein/Reuters, FILE

Tens of thousands of dockworkers are set to strike as soon as Oct. 1, potentially snarling dozens of ports along the East and Gulf coasts with major implications for the U.S. economy.

A shutdown of the ports would cost the economy up to $4.5 billion each day, according to a report from JPMorgan senior equity analyst Brian Ossenbeck.

The East and Gulf Coast ports account for more than half of U.S. container imports, facilitating the transport of everything from toys to fresh fruit to nuclear reactors, Ossenbeck found.

A strike lasting only a handful of days would wreak little damage, but a prolonged work stoppage of several weeks or months could drive up prices for some goods and cause layoffs at manufacturers as raw materials dry up, experts said.
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cd8ed · Sep 29, 2024

We need to automate and modernize our ports — it will be a significant upfront investment but will pay off 10 fold in the long run.

We have some of the most inefficient and aging “large” ports in the world.

Why does America not believe infrastructure is important?

Space_Time · Sep 29, 2024

Good to know:

https://www.google.com/amp/s/amp.cnn.com/cnn/2024/09/29/business/goods-port-strike-east-gulf-coasts

Expect shortages of bananas, booze, chocolate and cherries if there’s a long port strike

By Chris Isidore and Vanessa Yurkevich, CNN

Published 1:00 PM EDT, Sun September 29, 2024

Al Drago/Bloomberg/Getty Images/File

Dole bananas at a grocery store. America's most popular fruit could be in shorter supply if longshore workers at East and Gulf coast ports go on strike early Tuesday.

New York

CNN

If longshore workers at East and Gulf Coast ports go on strike Tuesday, as now appears likely, it could choke off the supplies of many popular products that flow over those docks. But not necessarily right away.

Businesses have been nervously watching the 12:01 am Tuesday strike deadline approaching with little sign of progress toward a deal to avoid a strike of tens of thousands longshore workers. Many have been doing what they can to prepare for the shutdown – but there are limits.

It doesn’t make economic – or logistical – sense to ship many of the goods that come into East Coast ports by alternative ports of entry – or by plane.

That means America could see some shortages of chocolate, alcohol, popular fruit, including bananas and cherries, and even certain cars if the strike lasts a long time. That could mean higher prices for the goods that are available.
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A looming port strike could fuel inflation and cause layoffs, experts say

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A looming port strike could fuel inflation and cause layoffs, experts say

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