U.S. Dockworkers Ratify New Six-year Contract

More than 45,000 U.S. dockworkers represented by the International Longshoremen's Association ratified a new six-year contract on Tuesday, formalizing a deal that offers bumper pay hikes and averts any potential disruption until 2030.

Terms of the contract, previously agreed upon by the labor union and the United States Maritime Alliance, included a 62% wage hike over the life of the agreement.

Both the labor union and the employer group had agreed on the wages in October, putting an end to a three-day strike that spiked shipping prices and caused cargo backlogs at the three dozen affected ports.

But they remained divided over issues tied to automation. It was not until January that a tentative deal was signed, which was also a priority for the White House.

The new contract, which will be in effect from Oct. 1, 2024 to Sept. 30, 2030, increases the hourly base rate for workers to $63 from $39, ranking longshoremen among the highest paid blue-collar workers in the U.S.

It accelerates wage raises for new ILA workers, strengthens healthcare plans and also increases employer contributions to retirement plans, while safeguarding workers from threats of increased automation.

The workers approved the new contract by a resounding