Forty-five thousand union workers from 36 major U.S. ports walked off the job today in the first East-to-Gulf port strike since 1977. The International Longshoreman’s Association is seeking higher wages and a rollback on proposed automation. The National Association of Manufacturers estimates the work stoppage could reduce GDP by as much as $5 billion per day. The impact of a prolonged strike has the potential to dramatically slow economic growth, increase prices and meaningfully affect next month’s presidential election.

Read the full article

Read more Economic Commentary