If West Coast dockworkers strike, effect on economy could be $2.5B per day: Report

The Port of Seattle would be among 30 West Coast ports affected if there’s a strike by dockworkers.

Ben Miller, June 27, 2014, Puget Sound Business Journal

If 13,000 West Coast dockworkers go on strike at 30 ports from San Diego to Anacortes, the effect on the U.S. economy could be $2.5 billion per day.

That’s according to a study compiled by the National Association of Manufacturers (NAM) and the National Retail Federation (NRF) by economists at the Interindustry Forecasting Project at the University of Maryland.

If the strike goes on for 20 days, the effect would reduce the U.S. gross domestic product $2.5 billion a day; disrupt 405,000 jobs; and cost the average household $366 in purchasing power, according to the study.

“On June 30, the current labor contract between the International Longshore and Warehouse Union (ILWU) and its employer group, the Pacific Maritime Association (PMA), will expire. A protracted dispute between the negotiating parties could lead to reduced or shuttered terminal operations for an extended period. If such disruptions occur, the economic impact would be significant and widespread,” according to the study.

Contact Form Powered By : XYZScripts.com