Infrastructure
Expected Longshoreman Strike Could Be Another Blow to the Economy
Published:
Last Updated:
Just a few days ago, the possibility of a strike of longshoreman at major East Coast and Gulf ports was nowhere in the news. Now the chance of a work stoppage has been called nothing short of another potential catastrophe for the economy.
According to The Wall Street Journal:
Port authorities along the coast, which aren’t part of the negotiations but would be effectively shut down by a strike, are bracing for a walkout by 14,650 longshoremen.
“It looks pretty likely at this point,” said Curtis Foltz, executive director of the Georgia Ports Authority in Savannah. He said Georgia’s ports would lose as much as 80% of their traffic if the strike goes ahead. “Everyone in the industry is very disappointed to be at the point where we are today,” he said.
Douglas A. McIntyre
Take the quiz below to get matched with a financial advisor today.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the
advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Take the retirement quiz right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.