West Coast Labor Gridlock: Stalled Negotiations Threaten $500M Daily Loss To US Economy

The stalemate between dockworkers on the U.S. West Coast and their employers has the possibility to trigger nationwide supply-chain chaos.
Workers at the ports of Los Angeles and Long Beach began withholding labor last week, affecting the loading and unloading of cargo, reported Reuters.
This led to the operators at the Port of Long Beach to plan a temporary closure of four of the seaport's six terminals due to workers shortage.
Normal operations resumed at the ports of Los Angeles and Long Beach heading into the holiday weekend, reported Bloomberg.
The ruckus was caused as the port workers' employment contract expired in 2022 and a new agreement was not signed.
"Ever since the old contract failed to get renewed in the middle of 2022, the specter of labor disruptions on the US West Coast has been a constant risk factor," the report cited shipping analyst Lars Jensen.
If the labor disruption extends, it will have a huge economic impact on the U.S. economy.
The report further quoted National Association of Manufacturers' report last year, estimating the labor stalemate could cost $500 million a day.
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