A U.S. government shutdown could cost $140 million per day, while a port strike starting Tuesday threatens $5 billion daily. – Citizen Watch Report

A U.S. government shutdown could cost 0 million per day, while a port strike starting Tuesday threatens  billion daily. – Citizen Watch Report

A U.S. government shutdown could cost 0 million per day, while a port strike starting Tuesday threatens  billion daily. – Citizen Watch Report

As a potential U.S. government shutdown looms, which could cost approximately $140 million per day, a far graver threat is on the horizon. The International Longshoremen’s Association has confirmed a port strike set to begin on October 1, jeopardizing operations at 36 critical ports along the East Coast and Gulf of Mexico. This strike poses an alarming risk, with estimates suggesting losses of $4.5 billion to $5 billion daily.

The implications are staggering: widespread supply chain disruptions could lead to severe shortages and skyrocketing prices for essential goods. Businesses, consumers, and the economy at large are bracing for a crisis that could ripple through every sector, underscoring the urgency of addressing these escalating tensions before it’s too late.

The International Longshoremen’s Association (ILA) has outlined several key demands in their negotiations:

  • Wage Increases: The union is seeking significant wage increases to address what they describe as decades of wage subjugation.
  • Improved Working Conditions: This includes better safety measures and more favorable working hours.
  • Job Security: The ILA wants assurances against job losses due to automation and other technological advancements.
  • Benefits: Enhancements to health care, retirement plans, and other benefits are also on the table.

Sources:

www.cbc.ca/news/business/longshoremen-strike-1.7337783

en.as.com/latest_news/how-would-a-port-strike-along-the-east-coast-affect-the-us-economy-n/

abc13.com/post/port-houston-acknowledging-impact-strike-could-have-operations-contract-negotiations-arent-met-monday-deadline/15371584/

www.ustravel.org/sites/default/files/2023-09/governmentshutdown_onepager.pdf

www.ustravel.org/press/federal-government-shutdown-would-cost-us-travel-economy-140-million-day

 



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